Indian markets slumped over 1% on Tuesday after Apple Inc.’s warning about the impact of coronavirus outbreak hammered global stocks, before recovering partially to close 0.4% lower. The BSE Sensex ended at 40,894.38, down 161.31 points, or 0.39%, while the Nifty was at 11,992.50, down 53.30 points, or 0.44%. Following Apple’s warning, stock markets in Japan, Hong Kong and Korea fell over 1%, while China ended flat. She also said there’s no assessment yet on the impact of the outbreak on government revenues. Nomura expects weaker global growth owing to the outbreak to reduce India’s growth in Q1 2020 to 4.5% year-on-year.

Source: Mint February 18, 2020 17:26 UTC