Coronavirus: Investors dump equities amid fears of global recession

Global economies and businesses are facing one of the most difficult times in history as countries on three continents reported their first cases of the coronavirus last weekend as the world prepared for a pandemic of the disease with investors dumping equities in expectation of a global recession.

Share prices were on track for the worst week since the global financial crisis in 2008 as virus-related disruptions to international travel and supply chains fuelled fears of recession in the United States and Europe.