Markets Insider reports that Chinese stocks plunged on Monday as the Wuhan coronavirus spreads. The CSI 300 index fell as much as 9.1% – its worst opening in approximately 13 years.
The Chinese financial markets had been closed since January 23 – due to the Chinese New Year holiday. “These are massive moves but entirely as expected,” stated a stock market analyst.
Approximately 3,500 stocks slumped by the daily limit of 10%. These stock losses wiped out $400 billion in combined market capitalization.