February 27, 2020 / 9:16 PM / a month ago

Australia shares set to tumble as coronavirus spreads, NZ down

    Feb 28 (Reuters) - Australian shares are set to tumble on
Friday, tracking major U.S. stock indexes which briefly slipped
into correction territory overnight as fears mounted over the
rapid spread of the coronavirus across the globe. 
    Governments from Iran to Australia raced to contain the
outbreak's spread, with new infections reported around the world
surpassing those in mainland China. Prices of oil, iron-ore and
other base metals all slipped.             
    The local share price index futures          fell 1.6% or
109 points, a 2.3% discount to the underlying S&P/ASX 200 index
        close. The benchmark fell 0.8% on Thursday.
    New Zealand's benchmark S&P/NZX 50 index         fell about
2% to 11,209.59 by 2113 GMT.
    
       

 (Reporting by Rashmi Ashok in Bengaluru
Editing by Chris Reese)
  
 
 
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