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Thursday, 12 March 2020 18:43

Asia stocks sink after US bans Europe travel on virus

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Stock markets tumbled Thursday after US President Donald Trump announced a 30-day ban on travel to the United States from Europe over the coronavirus. As quoted by AFP.com ( 12/3)  Asian markets were already a sea of red at the open, with traders taking their lead from a global rout as the World Health Organization declared the spread of the new virus was officially a pandemic.  But Trump's announcement of the 30-day ban, which excludes Britain, caused further selling, despite a series of measures intended to ease the financial pain of the outbreak, which has paralysed travel and hit businesses around the world. Tokyo's benchmark Nikkei was down 5.42 percent or 1,051.88 points to 18,364.18, while the broader Topix was down 5.06 percent or 70.15 points to 1,314.97 in the hour after Trump's address.  Australia's ASX was down 5.4 percent, while Hong Kong tumbled three percent at the opening//AFP

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