Global shares tumbled further on Friday, on worries that the economic fallout from the global spread of the coronavirus may be more severe than previously expected.

Japan’s Nikkei 225 was down 3.5% in late morning trading and Korea’s Kospi shed 2.5%, putting both indexes on track for a correction, or a decline of at least 10% from a recent peak. U.S. indexes slipped into correction territory on Thursday as the market rout continued to deepen.

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