Coronavirus fears trigger biggest one-day fall on US stock market
Dow plunges 1,190 points as analysts say virus could inflict as much damage as 2008 crisis
Fears over the spread of coronavirus have prompted a record plunge in the US stock market, as analysts warned the outbreak could wreak economic havoc on a scale not seen since the 2008 financial crisis.
The Dow Jones industrial average suffered its worst one-day fall - 1,190 points - losing 4.4%, as fears of a global pandemic hit investor confidence.
Related: Standard Chartered to miss growth targets amid coronavirus fears
Microsoft, PayPal and Standard Chartered all forecast disappointing profits.
Facebook cancelled its annual developer conference in California where the company usually unveils new products to thousands of software engineers and entrepreneurs.
Goldman Sachs warned coronavirus could wipe out profit growth at US companies in 2020.
Aston Martin predicted falling sales and warned of disruption to its supply chain.
Property firms pulled out of the industry's annual Mipim conference, due to take place in Cannes next month.
Budweiser beer owner ABInBev reported a $170m hit to profits.
Advertising firm WPP quarantined staff returning from Asian countries.
Cosmetics firm L'Ori(C)al banned travel for its 86,000 staff.
Shoemaker Crocs said Asian disruption would cut its revenues by up to $30m.
What is Covid-19 - the illness that started in Wuhan?
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