COVID-19: Cases spike, stocks crash in Australia

COVID-19: Cases spike, stocks crash in Australia

ASX 200 posts largest daily percentage fall on record, total cases near 300 as New South Wales reports highest rise

By Riyaz ul Khaliq

ANKARA (AA) - The number of coronavirus patients in Australia is nearing 300 as the southeastern state of New South Wales (NSW) reported its highest increase in cases on Monday.

The rising tally also led to staggering losses at the country’s stock exchange, which posted its largest daily percentage fall on record.

According to ABC News, a total of 37 coronavirus cases were reported in NSW on Monday, raising the state’s total to 171.

Health Minister Brad Hazzard also predicted an “exponential increase” in coronavirus cases over the coming days.

The World Health Organization’s (WHO) data shows Australia has 279 cases and three confirmed deaths so far.

- Market crash

The economic slowdown due to the COVID-19 outbreak triggered losses at Australia’s stock exchange, ASX 200, which posted its largest daily percentage fall on record.

"It is new territory, unfortunately, it is a record you don't want," ABC quoted market analyst Evan Lucas as saying.

The report said ASX 200 was now down 30% from its peak on Feb. 20 this year.

All Ordinaries, Australia’s oldest index of shares, lost $165 billion in value as it closed 9.5% down, its largest single day fall since the 1987 stock market crash.

After emerging in Wuhan, China, last December, the coronavirus has now spread to at least 146 countries and territories, according to the WHO.

The global death toll is nearly 6,500, with around 165,000 confirmed cases.

While the WHO recently declared the global outbreak a pandemic, its head Tedros Adhanom Ghebreyesus said the situation was controllable.

In his remarks at a March 3 briefing on COVID-19, the WHO director-general also pointed out that the mortality rate from the virus was around 3.4%.

Kaynak:Source of News

This news has been read 217 times in total

ADD A COMMENT to TO THE NEWS
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
Previous and Next News