Markets slump 4% as investors sentiment remain sombre due to coronavirus

Indian indices fall 4%; gloom prevails in other global markets also after Trump's dire warning

The Indian markets dropped 4 per cent on Wednesday as investor sentiment remained sombre on fears that the Covid-19 pandemic would take a heavy toll — on both economy and life. Major markets across Asia and Europe fell between 1 per cent and 5 per cent. 

US President Donald Trump on Tuesday warned of “very, very painful two weeks” and the government projected that the outbreak could kill up to 240,000 people in the country.
 

The benchmark Sensex declined 1,200 points, or 4.1 per cent, to 28,265, while the Nifty 50 index fell 344 points, or 4 per cent, to end