Coronavirus fears wipe billions from Australian shares

The ASX is draped in red as coronavirus fears wipe tens of billions of dollars in value from Australian shares. Local stocks fell to a seven-week low as the market drop extended to 2.2 percent and benchmark ASX 200 was trading 137 points lower. Experts said the situation was not hopeless and drops could provide good buying opportunities in the right businesses. There are expectations the government will intervene and cut rates in March or April. Image: AP Via news.com.au — Australia’s #1 news site https://www.news.com.au