The spread of the China coronavirus has placed renewed downward pressure on global equity markets

Posted on January 23, 2020

The spread of the China coronavirus has placed renewed downward pressure on global equity markets, with the death toll rising to 17 and the World Health Organization set to reconvene Thursday to decide whether to declare a global health emergency.

On Wednesday, the number of confirmed cases of the new strain of coronavirus, which originated in China’s Wuhan city and has now been detected throughout Asia and as far away as the U.S., reached 571.

Asian shares tumbled overnight, while Chinese Treasury futures surged, as fears of an economic fallout from the virus sent investors running for cover.

Thursday’s focus will also be attuned to individual stock moves arising from corporate earnings season, with a strong session for IBM lifting the tech sector on Wednesday.