Domestic stock markets slumped more than 3 per cent on Friday continuing their downward spiral for the sixth session in a row, as fears the coronavirus outbreak may trigger recession across major economies spooked their global peers. Hopes the coronavirus would be contained to China vanished on Friday as infections spread rapidly around the world, compelling countries to stockpile medical equipment and investors to take flight in expectation of a global recession. The S&P BSE Sensex ended at 38,297.29, lower by 1448.37 points – or 3.64 per cent – from its previous close, and the Nifty shut shop down 431.55 points – or 3.71 per cent – at 11,201.75.
