Stocks and oil slide on fears over China virus outbreak - business live
(The Guardian Business News)

Equities sell off and oil slumps below $59 as death toll from coronavirus rises, sparking fears over economic impact 8.44am GMT Saudi Arabia, the world´s biggest oil producer, is closely monitoring developments in global oil markets as the deadly coronavirus spreads, amid `gloomy expectations` for the impact on the Chinese and global economy, the country´s energy minister said on Monday.Prince Abdulaziz bin Salman said the Opec oil cartel and its allies could act to restore the stability of the oil market if needed -- but added he was confident that the Chinese government and international community would be able to contain the spread of the virus and eradicate it.Such extreme pessimism occurred back in 2003 during the Sars outbreak, though it did not cause a significant reduction in oil demand.have the capability and flexibility needed to respond to any developments, by taking the necessary actions to support oil market stability, if the situation so requires. 8.05am GMT The FTSE 100 index in London has fallen more than 110 points in early trading, losing 1.49% to 7473.29.Over on the continent, stocks have also tumbled. France´s CAC has slid 1.7% while Germany´s Dax and Spain´s Ibex are both down 1.5%. Continue reading...