Japan's Abe vows to protect economy as virus heightens recession fears

FILE PHOTO: Japanese Prime Minister Shinzo Abe listens to IAEA Director General Rafael Grossi at the prime minister's official residence in Tokyo, Japan, February 25, 2020. Kimimasa Mayama/Pool via REUTERS

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe vowed to take whatever policy steps are needed to prevent the new coronavirus from dealing a severe blow to an economy already teetering on the brink of recession.

With investors fearful of a worldwide downturn, global shares on Friday were heading for their biggest weekly fall since the depths of the financial crisis in 2008, putting policymakers under pressure to take bolder action.