Global stock and oil markets are expected to trade nervously this week even as investors hope for signs for the containment of the deadly coronavirus. Fears about the global economic effects of the virus last week led to the price of oil tumbling to around $56.60 (€51) a barrel. The Sars virus outbreak 17 years ago led to many deaths in Asia, but the Chinese economy has become even more interconnected since then, making everything from car parts to iPhones for world consumers. Last week, Apple closed three stores in China due to concerns about the spread of the virus. Many other companies have called for employees in China to work from home and cease non-essential business travel in the first week of February.

Source: Irish Examiner February 02, 2020 21:11 UTC