US stock markets fell significantly on Thursday as more coronavirus cases were reported around the world.
The Dow Jones dropped nearly 1,200 points and the S&P 500 plunged 12% in the worst one day drop for the market since 2011. Stocks are heading for their worst week since the 2008 financial crisis.
It comes as the head of the World Health Organisation (WHO) said on Thursday that the world is at a “decisive point” in the battle against COVID-19. The disease has continued to spread to new countries, spooking global financial markets.
The coronavirus has now killed 54 people in 44 countries outside China and still has “pandemic potential,” Dr Tedros Adhanom Ghebreyesus told a news conference in Geneva.
“If you act aggressively now you can contain this virus,” he said, urging governments around the world to follow WHO advice such by preparing isolation units and introducing health checks at borders.
“The most important thing is to calm down and do the right things,” he said.