By William Ebbs
Chinese authorities have announced that stock markets in Shanghai and Shenzhen will remain closed until next Monday as fears over coronavirus continue to swirl. But it may not be enough to stop a selloff once markets reopen next week.| Image: shutterstock.com
- Chinese authorities have decided to suspend trading on the Shanghai and Shenzhen stock exchanges.
- This move comes as the Wuhan coronavirus outbreak grows in size and severity.
- The government is kicking the can down the road. Investors can expect a massive correction when trading resumes next Monday.
China’s financial markets will remain shuttered until Feb. 3 due to coronavirus fears, according to separate announcements from the Shanghai and Shenzhen exchanges.
The move comes as the Wuhan coronavirus outbreak grows in size and severity with many fearing it may lead to a global recession.