Sensex, Nifty crash as global markets dive over spread of coronavirus

Sensex dived more than 1,400 points today as share prices globally were on track for the worst week since the global financial crisis in 2008 with coronavirus taking a heavy toll on trade.

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The Sensex closed at 38,297, down 1,448 points and Nifty at 1,1201 plunging 431 points.

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A sharp sell-off on Wall Street took the Dow Jones and the Nasdaq down by over four percentage points with healthcare stocks being the worst-hit.

Oil prices sank to a new low of $50.05 per barrel as the virus sparked panic over crude demand.

European stock markets bled with Frankfurt's DAX 30 index diving 5.2 per cent.

Paris CAC 40 tumbled 4.6 per cent and Milan's FTSE MIB shed 3.9 per cent.

In Asia, Tokyo, Shanghai, Sydney, Singapore and Seoul were among the bourses that fell more than three per cent.

The currency took a hit with Australia's dollar, the Indonesian rupiah and the Indian rupee falling sharply.

The virus which originated from Wuhan in Hubei province in China has already claimed 2,856 people and infected more than 83,000 worldwide and spread to at least 45 countries.