Coronavirus outbreak LIVE updates: Global share markets set for worst week since 2008 as virus stokes recession fear

Coronavirus outbreak LIVE updates: China reports rise in new cases, warns of risk of rebound

People wear face masks to protect against the spread of the new coronavirus as they visit the Chiang Kai-shek Memorial Hall in Taipei, Taiwan. (AP Photo/File)

Coronavirus outbreak LIVE updates: World share markets were headed for the worst week since the depths of the 2008 financial crisis as investors ditched risky assets on fears the coronavirus would become a pandemic and trigger a global recession, news agency Reuters reported. The benchmark equity indices on the BSE and National Stock Exchange (NSE) crashed over 2.5 per cent each in the opening deals on Friday amid the global market selloff.

The Iranian government of Friday said that out of the seven confirmed cases of officials in the country, one is Vice President Masoumeh Ebtekar, who sits just a few seats away from President Hassan Rouhani at Cabinet meetings.

On the other hand, Nigeria and New Zealand reported first confirmed cases of the novel coronavirus on Friday. New Zealand's health ministry said that the person affected is in their 60s. It also added that the patient is being treated in Auckland City Hospital and is in an improving condition.