Stock markets are falling sharply again as countries report a surge in coronavirus cases – bolstering investor fears that the outbreak will cause widespread economic damage.

Japan’s Nikkei led the fallers in Asia overnight – down 2% – as authorities reported that a woman who had previously been treated and declared clear of COVID-19 had tested positive for a second time.

South Korea reported its largest daily spike in cases leaving its KOSPI index firmly in the red.

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News of the first confirmed COVID-19 case in California not related to travel abroad also spooked sentiment.

Traders work through the closing minutes of trading Tuesday on the New York Stock Exchange floor on February 25, 2020 in New York City

Paul Kavanagh, chief executive of Patronus Partners, tells Sky’s Ian King why the outbreak has prompted slowdown fears.

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Coronavirus: Stock markets taken sick again on speed of spread | Business News
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