January 29, 2020 / 2:50 PM / a month ago

SocGen sees 10% correction in equities if coronavirus escalates

LONDON, Jan 29 (Reuters) - Global stock markets could fall 10% if the situation around the fast-spreading coronavirus, which has killed more than 130 people, worsens further, Societe Generale market strategists said on Wednesday.

“If China were to be hit again, its 18% weight in the global economy would have an overwhelmingly negative effect on the rest of the global economy,” Alain Bokobza, head of global asset allocation at SocGen, wrote in a strategy note. (Reporting by Thyagaraju Adinarayan, edited by Julien Ponthus)

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