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Irish and world markets slump over virus fears

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Virus impact: Ryanair suffered a €2bn drop in its share price yesterday

Virus impact: Ryanair suffered a €2bn drop in its share price yesterday

Virus impact: Ryanair suffered a €2bn drop in its share price yesterday

IRISH and world stocks plunged yesterday as parts of northern Italy faced lockdown in response to the spreading coronavirus.

The Iseq All-Share Index plunged by more than 4.3pc, its biggest drop since the Brexit referendum result in 2016. Ryanair saw its market value take a hit of more than 13.5pc - or €2bn.

Penneys owner Associated British Foods warned that its supplies from China - provider of around two-fifths of its clothing lines - could be hit.