Stocks in Shanghai slumped Thursday, weighing on global markets, as China grappled with a worsening viral outbreak that led investors to reassess the potential economic fallout world-wide. The lockdowns come shortly before one of the busiest travel periods for people in China and the region. Photo: Don Arnold/Getty ImagesConcerns about what the outbreak may mean for economic growth in China and elsewhere weighed on European stocks, said Lars Kreckel, global equity strategist at Legal & General Investment Management. The outbreak in China has weighed on both stocks this week on concern that the coronavirus will disrupt Chinese consumers’ travel plans and impact sales at hotels and casinos. “But it’s enough to keep equity markets where we are today.”—Joanne Chiu contributed to this article.

Source: Wall Street Journal January 23, 2020 08:15 UTC