Coronavirus: Bear tightens grip on markets; Sensex ends at over 3-year low

Concerns about the spread of coronavirus continued to accelerate. As of Wednesday, 151 cases were reported in the country

Stock markets around the world continued to buckle under the pressure of the coronavirus pandemic on Wednesday, even as central banks announced measures to limit the economic damage. 

In India, the Sensex dropped 1,710 points, or 5.6 per cent, to end at 28,870, while the Nifty50 fell almost 500 points to 8,469. Both the benchmark indices are at levels last seen more than three years ago.

Financial stocks were at the forefront of the Wednesday’s market fall. Investors dumped private sector banking stocks, which were the most sought-after just months ago, on worries of the economic fallout of the coronavirus crisis, and