Mideast Stocks: Gulf stocks retreat further as virus fears grow | ZAWYA MENA Edition:
Major bourses in the Gulf slid on Wednesday, with Saudi leading the losses, mirroring declines in global stocks as concerns about the spread of the coronavirus grew after the United States warned Americans to prepare for the possibility of a pandemic.
The U.S. Centers for Disease Control and Prevention on Tuesday alerted Americans to begin to prepare for community spread of the new coronavirus after reports this week of new cases in several more countries.
Asia reported hundreds of new coronavirus cases on Wednesday, including the first U.S. soldier to be infected and outbreaks in Italy and Iran spread to other countries.
There have been nearly 50 deaths outside China, including 11 in Italy and 16 in Iran, the most outside China, according to a Reuters tally.
Saudi Arabia's benchmark index was down 1.3% in early trade, as all its banking shares were in the red including Al Rajhi Bank, which fell 1.1%.
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