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Sri Lanka stocks plunge as coronavirus spreads globally

Sri Lanka stock saw declines on Tuesday (25) following an overnight plunge on Wall Street as fears of the economic impact from the coronavirus outbreak spread.

In equities, Colombo’s All Share Price Index (ASPI) fell 66.37 points to close at 5,730.93 and S&P SL20 index of more liquid stocks fell 1.44% or 39.91 points to close 2,731.39.

Market turnover was Rs. 591.6 million.

Meanwhile, global financial markets also saw some of the sharpest falls in years on Monday as the spread of the coronavirus that has ravaged China threatens economic havoc on a global scale.

In the US, the Dow Jones and S&P 500 posted their sharpest daily declines since 2018, with the Dow falling 3.5% or more than 1,000 points.

The S&P 500 ended the day 3.3% lower, while the Nasdaq sank 3.7%.

The UK's FTSE 100 share index closed 3.3% lower, the sharpest drop since January 2016.