“ New York/Hong Kong (CNN Business)Global stocks are collapsing Monday as the novel coronavirus outbreak and an oil crash rattle investors.
S&P 500 (INX) futures plunged as much as 5% Sunday evening, triggering a limit that prevents futures from trading below that mark. Dow (DJI) futures fell more than 1,000 points, or about 4.2%. Nasdaq Composite (COMP) futures were down 4.5%.
The sell-off carried over into Asia Pacific, where Australia's S&P/ASX 200 dropped 5.9% on Monday, putting the index on pace for its biggest plunge since October 2008. Japan's Nikkei 225 (N225) sank nearly 5% and was last below 20,000 points, heading for its lowest close in more than a year.
Hong Kong's Hang Seng (HSI) lost more than 4% after markets opened, setting the index up for its biggest decline in more than two years. South Korea's Kospi (KOSPI) and China's Shanghai Composite (SHCOMP) fell 3% and 2%, respectively.”
