FTSE 100 loses another £35bn as coronavirus market rout continues - business live
(The Guardian Business News)

European markets have suffered a second day of heavy losses as new coronavirus cases are reportedLatest: FTSE 100 has shed another 130 pointsLowest close in a yearFresh losses on Wall Street tooLuxury industry faces $40bn lossesTrump: Markets will slump if I lose re-election bidMeggitt, Croda and Morgan warn on virus impact 5.35pm GMT JP Morgan´s Jamie Dimon has, it seems, found a reason to be cheerful about coronavirus:Dimon says `very hard to tell` coronavirus impact: `I have this nightmare in Davos all of us went there and got it and then we just spread it. The only good news from that is it might just kill the elite.` 5.30pm GMT The Financial Times have done a good piece about the fall in junk bond prices -- which is another sign that investors are very worried.Here´s a flavour:Fears over the impact of the coronavirus outbreak sparked a sharp sell-off in junk bonds on Monday, pushing borrowing costs for the riskiest energy companies to their highest level in more than three years.The additional yield, or spread, on a widely watched high-yield energy bond index run by Ice Data Services rose to 8.35 percentage points above benchmark US Treasuries, its highest level since August 2016, as investors reacted to news that the virus had spread further in countries from Italy to Iran.Sharp sell-off in junk bonds as coronavirus fears grow https://t.co/fNOP2LhtWF via @financialtimes @JARennison Continue reading...