Markets on edge: Weak economic data, Coronavirus spook investors further

There seems to be little respite in sight for the markets — which have just seen their worst week in a decade — as the impact of coronavirus has started reflecting in economic data. 

Factory activity in China, the global engine of growth, has contracted at the fastest pace on record with China’s official Purchasing Managers’ Index (PMI) falling to a fresh low of 35.7 in February against 50 in January. 

Further, China and South Korea continued to report more coronavirus cases over the weekend, while  the US, Australia, and Thailand reported their first cases of death. 

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