MARKET WRAP: Markets continue to bleed over coronavirus

The JSE tracked substantially weaker global markets on Friday as further outbreaks of the coronavirus around the world weighed on risk appetite, with this week’s sell-off escalating.

The number of confirmed cases outside China began to grow at a faster pace than the number of those within that country this week, raising concerns over its effect on the global economy. The epicentre of the virus, that began in December in China’s city of Wuhan, was declared a “public health emergency of international concern” by the World Health Organisation (WHO) on January 30.