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Asian shares plunge as much as 10 percent amid coronavirus crisis

Asian shares plunge as much as 10 percent amid coronavirus crisis

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Shares dropped in Asia on Friday, with those in Japan, Thailand and India going down as much as 10 percent after Wall Street suffered its greatest drop since the Black Monday crash of 1987.

Why are Asian shares plunging?

Globally, markets have withdrawn due to the fears of economic fallout from the coronavirus emergency. This is also due to the recent meltdown in the US, as the world’s biggest economy shatters confidence around the globe. The plunging of shares is edue to worldwide cancellations and shutdowns, including Trump’s travel ban to the US from Europe.

128,000 people infected with the coronavirus globally and the number of deaths are over 4,700. The combined health crisis due to coronavirus has led the investors to withdraw their shares from Wall Street.

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