Stocks fall on fears of virus outbreak; red flag up for oil

US STOCKS fell on a volatile week as investors struggled to get their heads around the mysterious coronavirus outbreak and what it means for the global economy.

With some major indexes about 5 per cent from their all-time highs and earnings reports outside the tech sector showing marked weakness, there is a chance that the sell-off becomes a full-blown correction.

Last Thursday, the World Health Organization upgraded its assessment of the outbreak to a global public health emergency. As of Sunday, the number of infections passed 14,000, with deaths exceeding 300.