Britain’s economy dangerously exposed as coronavirus fear grips global markets | Philip Inman

Shares suffered spectacular falls last week, but the worst is probably yet to come

A sense of panic was palpable in all corners of the international financial system on Friday as coronavirus cases spread relentlessly across Europe, the Americas and reached sub-Saharan Africa for the first time.

Determined efforts of the Chinese authorities to contain the outbreak failed to settle frayed nerves after the World Health Organization, reacting to the news that four continents had at least six affected countries, raised its impact risk alert from "high" to "very high".