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Chinese stocks plummet as coronavirus outbreak worsens

China’s stock markets reopened to massive losses Monday as investors continued to grapple with the increasingly dire coronavirus outbreak. The Shanghai Composite Index closed down 7.7 percent at 2,746.61, suffering its worst daily drop in more than four years on the first day of trading after an extended Lunar New Year holiday. Some $393 billion was reportedly taken off the benchmark Chinese index as more than 2,500 stocks sank by the 10 percent daily limit amid pressure from the coronavirus, which has killed more than 360 people and sickened more than 17,000. The CSI 300 Index also closed down 7.9 percent — the largest loss since August 2015 — with technology, telecom and commodities companies leading the way, according to Blo ...
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