Live Markets latest news: Asian stocks plunge while oil price falls –

In Hong Kong, the Hang Seng Index was down 3.7 percent, Sydney dropped six percent, Shanghai shed 2.5 percent and Taiwan was off by 2.8 percent.

W ellington has nosedived 9.3 percent as New Zealand revealed a four-week lockdown to stop the spread of the coronavirus.

Singapore tanked 7.5 percent, Jakarta lost four percent, and Seoul was down 3.4 percent.

Tokyo, nevertheless, was up 0.5 percent as a cheaper yen against the dollar improved the marketplace.

Economists and experts are now fretted about how deep the effect of the pandemic could be on the international economy, with social distancing steps and lockdowns dealing major blows to lots of industries.