The steep losses led another sell-off across Asia following a painful week for global markets with the virus death toll topping 360 people and more than 17,000 infected, and governments around the world banning flights to and from China.
Observers said that with
China being a crucial part of the global trade infrastructure, other countries would also be badly hit, while major corporate names have frozen or scaled back their Chinese operations, threatening the global supply chain.
The World Health Organization invoked a global health emergency last week but stopped short of recommending trade and travel restrictions that could have had a bruising effect on China.