Chinese markets dropped sharply Monday morning, reopening after the extended Lunar New Year break, due to heightened anxiety over the fast-spreading coronavirus and its impact on the global economy. The benchmark Shanghai Composite Index fell 8.1% in early action, on the first trading day of the Year of the Rat, putting the index on pace for its steepest one-day decline since August 2015. Retail, consumer services and transportation stocks led the declines. The Shenzhen Composite dropped 8.6%.

Source: Wall Street Journal February 03, 2020 02:03 UTC