Sensex Plunges 800 Points, Nifty Ends Below 11,840 on Rising Concern Over Coronavirus & Weak Global Market
According to reports, Xi Jinping as quoted said, "Current epidemic situation is still severe and complex, and the prevention and control work is at the most critical stage." The crisis is "the most difficult to prevent and control in China."
Mumbai, February 24: The BSE Sensex and Nifty plunged more than 2 percent on Monday on the back of growing concern over coronavirus. Sensex closed at 40,364, down 806 points. Nifty on the other hand also closed at 11,829, down 252 points. The Indian markets slipped also on the back of weak trends seen in the global market.COVID-19 Outbreak: Coronavirus Death Toll Rises to 2,592 in China, 409 New Cases of nCov Reported.
Asian stocks including Hang Seng Nikkei and Shanghai slipped over 1.50 per cent as investors fret over the spread of the deadly coronavirus around the world. The situation around the world on coronavirus continues to remain extremely critical. Chinese President Xi Jinping warned on Sunday that novel coronavirus is the worst public health crisis facing the country since its finding. The outbreak on the other continued to spread its tentacles in South Korea and Italy, raising fears of a global pandemic.
IMF further warned that the deadly epidemic could put an already fragile global economy recovery at risk. According to reports, Xi Jinping as quoted said, "Current epidemic situation is still severe and complex, and the prevention and control work is at the most critical stage." The crisis is "the most difficult to prevent and control in China."
(The above story first appeared on LatestLY on Feb 24, 2020 04:15 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).