More than £200 billion has been wiped off the value of shares on the London FTSE 100 since the start of the week, amid fears of a global outbreak of coronavirus.
It’s the biggest one-week drop since the 2008 financial crisis, and comes after a British person aboard the Diamond Princess died from coronavirus on Friday.
Global stock markets have gone into freefall with outbreaks appearing in Italy, South Korea, Japan and Iran, raising concerns the virus could become a threat to global trade and industry.
Anxiety intensified on Friday after the United States reported its first virus case in someone who had not travelled abroad or had been in contact with anyone who had.
Both the Dow Jones Industial Average and the S&P 500 fell 1.8%, and the Nasdaq fell 1.7% on Friday.
France’s CAC 40 tumbled 2.7%, in Germany the DAX fell as much as 5% before stabilising and Tokyo and Shanghai closed 3.7% lower.
France is a republic and the largest Western European nation. Through expansion and colonisation in the 17th and 18th centuries France became a great power and still retains territories around the world. It has a seat on the UN security council and is the world’s fourth most wealthy country with a high standard of living and strong cultural identity.
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the “Footsie”, is a share index of the 100 companies by capital value, listed on the London Stock Exchange with the highest market capitalisation.
Germany, officially the Federal Republic of Germany, is a country in Central and Western Europe. It lies between the Baltic and North seas to the north, and the Alps to the south.
Germany is a federal parliamentary republic led by a chancellor. With over 83 million inhabitants of its 16 constituent states, it is the second-most populous country in Europe after Russia, as well as the most populous member state of the European Union. Its capital and largest city is Berlin, and its financial centre is Frankfurt; the largest urban area is the Ruhr.
Iran, also called Persia, officially the Islamic Republic of Iran, is a country in Western Asia. Its central location in Eurasia and proximity to the Strait of Hormuz give it significant geostrategic importance. Tehran is the capital and largest city.
Iran is home to one of the world’s oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. The Iranian Revolution established the current Islamic Republic in 1979.
Iran’s political system combines elements of a presidential democracy and an Islamic theocracy. Iran is a founding member of the UN, ECO, OIC, and OPEC. It is a major regional and middle power and has large reserves of fossil fuels — including the world’s largest natural gas supply and the third largest proven oil reserves.
The country’s rich cultural legacy is reflected in part by its 22 UNESCO World Heritage Sites. Historically a multi-ethnic country, Iran remains a pluralistic society comprising numerous ethnic, linguistic, and religious groups, the largest being Persians, Azeris, Kurds, Mazandaranis and Lurs.
Italy is a republic in central Europe which forms a peninsula in the Mediterranean Sea as well as bordering France, Switzerland, Austria and Slovenia. The islands of Sardinia and Sicily form part of the main territory of Italy. Italy is part of the Eurozone, having entered the common currency on 1st January 1999.
The capital, Rome, is home to the Vatican as well as landmark art and ancient ruins. Other major cities include Florence, with Renaissance masterpieces such as Michelangelo’s “David” and Brunelleschi’s Duomo; Venice, the city of canals; and Milan, Italy’s fashion capital.
ITV (LSE: ITV) is a broadcasting company which was formed from a merger of Granada plc and Carlton Communications in 2004. It holds Channel 3 broadcasting licences in England, Wales, Southern Scotland and the Isle of Man.
Japan is an island country in East Asia located in the northwest Pacific Ocean. Part of the Pacific Ring of Fire, Japan comprises an archipelago of 6,852 islands covering 377,975 square kilometers (145,937 sq mi); the country’s five main islands, from north to south, are Hokkaido, Honshu, Shikoku, Kyushu, and Okinawa. Tokyo is Japan’s capital and largest city.
Japan is divided into 47 administrative prefectures and eight traditional regions. The Greater Tokyo Area is the most populous metropolitan area in the world, with more than 37.4 million residents.
Japan is a great power and a member of numerous international organizations, including the United Nations (since 1956), the OECD, and the G7. Japan is a leader in the automotive and electronics industries.
S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. One division of the business, S&P Global Ratings, is considered the largest of the Big Three credit-rating agencies, which also include Moody’s Investors Service and Fitch Ratings.
Shanghai, on China’s central coast, is the country’s biggest city and a global financial hub. Its heart is the Bund, a famed waterfront promenade lined with colonial-era buildings. Across the Huangpu River rises the Pudong district’s futuristic skyline, including 632m Shanghai Tower and the Oriental Pearl TV Tower, with distinctive pink spheres. Sprawling Yu Garden has traditional pavilions, towers and ponds.
South Korea, an East Asian nation on the southern half of the Korean Peninsula, shares one of the world’s most heavily militarized borders with North Korea. It’s equally known for its green, hilly countryside dotted with cherry trees and centuries-old Buddhist temples, plus its coastal fishing villages, sub-tropical islands and high-tech cities such as Seoul, the capital.
Tokyo, Japan’s busy capital, mixes the ultramodern and the traditional, from neon-lit skyscrapers to historic temples. The opulent Meiji Shinto Shrine is known for its towering gate and surrounding woods. The Imperial Palace sits amid large public gardens.
