Equity markets slide as COVID-19 further spreads outside of China

US equity index futures are experiencing a significant drop off pointing to likely declines at Monday’s open as the number of coronavirus (COVID-19) cases outside of China surges.

The COVID-19 outbreak has originated in Wuhan, the capital of Hubei province in China, in December but has since spread to more than 30 other countries. Five countries, other than China, currently have more than 50 reported cases — South Korea (833), Italy (157), Japan (147), Singapore (89), and Hong Kong (74).