Chinese markets plunge as rising virus death toll fuels fears for global growth
BEIJING - The death toll from the new coronavirus in China’s Hubei province rose by 56 to 350 on Monday, Chinese state television reported citing official figures, as investors braced for volatility when Chinese markets reopen after the Lunar New Year break.
Hubei’s provincial capital of Wuhan, where the virus is thought to have originated, reported 41 new deaths. A total of 265 people in Wuhan have now died from the virus. The rising toll comes after the first death from the newly identified flu-like virus outside of China was reported on Sunday, that of a 44-year-old Chinese man who died in the Philippines after traveling there from Wuhan.
Beijing also said it would help firms that produce vital goods resume work as soon as possible, state broadcaster CCTV reported. The virus is thought to have emerged late last year in a Wuhan market illegally trading wildlife. It can cause pneumonia and spreads between people in droplets from coughs and sneezes.
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