Global stocks fall as coronavirus fears grip markets

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York yesterday. - Reuters

NEW YORK: Stocks and oil prices resumed their fall on Wednesday after authorities said more than 80 people were being monitored for the novel coronavirus in New York state's Long Island, adding to concern over its spread in Europe, Asia and the Middle East.

Financial markets have been reacting to news of the virus' spread because of the potential impact of the outbreak on the global economy.