BloombergPanic coursed through the world’s second-largest equity market as investors sold stocks on concern a deadly virus will worsen over China’s week-long trading break. The Shanghai Composite Index settled 2.8 percent lower after the close of trading, the worst end to a Lunar Year in its three-decade history. Macau casino stocks also tumbled as the city reported its second case of the novel coronavirus and announced it would cancel all Lunar New Year festivities. In Hong Kong, where two cases have also been confirmed, the Hang Seng China Enterprises Index dropped 2 percent and the Hang Seng Index fell 1.5 percent. After an extended break in May, the Shanghai Composite fell 5.6 percent as investors reacted to escalating trade tensions with the US.
