Borsa: Milan opens sharply lower

(ANSA) - MILAN, JANUARY 27 - Start of session in a heavy fall for Piazza Affari while the spread of the coronavirus scares investors from all over the world for the possible effects of contagion. The Ftse Mib index started trading against 1.07% at 23,713 points. Fear of the spread of the coronavirus and its economic impacts frightens investors around the world.
Tokyo lost 2% while futures on the Ftse China A50 index, which includes the top 50 Chinese A shares by capitalization, fell by 5.5%. Futures in Europe are deep red, with London dropping 1.2% and Frankfurt 1.3% and in the United States where the Wall Street indices are down about 1%. Many Asian stock exchanges closed, including China, South Korea, Hong Kong and Australia.
Fear of the coronavirus pushes investors to move to safe haven assets such as gold, US government bonds and the yen. Oil slips to lows since October, with the WTI dropping 2.1% to $ 53 and Brent 2% to $ 59.45.