Asian Shares Extend Losses As Virus Spreads

(RTTNews) - Asian stocks fell on Wednesday to extend recent losses amid continued fears that the coronavirus outbreak could escalate into a pandemic.

The number of confirmed new coronavirus cases in South Korea topped 1,100 and outbreaks in Italy and Iran spread to more countries, raising concerns about the impact of the outbreak on global growth.

The flu-like virus has now spread to several countries in Europe and the Middle East, with Switzerland, Austria and Romania reporting their first infections on Tuesday.

The U.S. Centers for Disease Control and Prevention warned that Americans should begin to prepare for community spread of the coronavirus in the U.S.

Chinese stocks fell notably as fears over the global coronavirus contagion intensified. Mainland China had 406 new confirmed cases of coronavirus infections on Tuesday, the country's National Health Commission said, down from 508 cases a day earlier.
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