Financial Markets are hit by Covid-19 impact

The Coronavirus outbreak that has infected roughly 110,000 people across more than 100 countries is close to being declared a pandemic, the World Health Organization said on Monday 9 March.

Iran Press/Europe: The World Health Organization warned on Monday, March 9 there is now a "very real" threat that the new coronavirus outbreak will become a pandemic, but stressed the virus could still be controlled.

After global COVID-19 infections passed the 100,000-mark, World Health Organization (WHO) chief Tedros Adhanom Ghebreyesus told reporters that "the threat of a pandemic has become very real."

In Italy where some 16 million people are now under quarantine there were 97 deaths reported, bringing its total on Monday to 463.

More than 3,800 people have died worldwide from coronavirus and over 110,000 infections have been recorded, according to WHO.

Financial Markets are hit by Covid-19 impact

Shares around the world are facing their worst day since the financial crisis with the dramatic falls leading to the day being dubbed 'Black Monday' due to the impact of coronavirus on the global economy.

Wall Street suffered its worst day since the financial crisis of 2008 as the Dow plummeted more than 2,000 points by Monday's closing bell, and London's FTSE 100 plunged to a three-year low after oil prices cratered by 30 percent overnight.

Italy is locked down due to the outbreak of coronavirus

Meanwhile, Italian Prime Minister Guiseppe Conte announced Monday 9 March that the containment measures introduced Sunday for the Lombardy region in the country's north would be applied to the whole nation. More than 6,300 people have been confirmed to have the virus in Italy so far while Germany and Spain also saw spikes in the number of cases Monday.

The number of confirmed U.S. cases of coronavirus has risen to more than 600 on Monday, including 23 deaths.

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Financial Markets are hit by Covid-19 impact
Italy is locked down due to the outbreak of coronavirus
WHO: Threat of coronavirus pandemic now very real