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Moscow. — The world’s 500 richest people lost a combined $139 billion in one day due to steep declines on global financial markets caused by the coronavirus outbreak.
The development comes as the World Health Organisation said the infectious disease has the potential to turn into a pandemic and urged the international community to do more to prepare for such a scenario.
The surge of new cases outside China, where the virus originated, sparked fears among investors that the spread of the disease will weaken global economic growth. As a result, on Monday the S&P 500 and Dow Jones announced their sharpest declines in more than two years with the Dow Jones falling 3,5 percent. Nasdaq closed down 3,7 percent, while Milan’s stock market fell 6 percent on the news that the number of coronavirus cases jumped to 229. — RT.
Online Reporter