As Chinese markets opened Monday, the effects of the mushrooming coronavirus outbreak hit with dramatic force. Within minutes, trading was suspended on multiple stocks as they hit the daily 10 percent limit that Chinese law allows—almost all downhill.
China’s heavily controlled stock market is a relatively unimportant cog in its economy, but the next few months are likely to prove painful to an economy still reeling from its slowest growth in three decades and a prolonged trade war with the United States as the effects of a virus that has now reached nearly 20,000 confirmed infections continue to make themselves known.Read More…
