ASX plunges $80b on opening as coronavirus spreads

Stocks on the Australian share market have plunged more than $80 billion on opening as coronavirus spreads around the globe.

The benchmark S&P/ASX200 was down 244 points, or 3.93 per cent, at 5973.1 at 10.15am.

The broader All Ordinaries index fell 247.8 points, or 3.96 per cent, to 6,038.7, both indexes have fallen to their lowest levels since February last year.

Across the world there have been more than 105,000 people diagnosed with the virus and 3584 deaths, according to the last World Health Organisation update.

About 75 Australians have tested positive and three people have died.

More to come.

Source: 9News https://www.9news.com.au/national/asx-updates-australian-share-market-plunges-on-opening-as-coronavirus-spreads/8d6a2985-7b94-4a5d-a732-35deaeb2e845