US futures, Nikkei index fall as coronavirus fears spread

US S&P500 e-mini futures fell more than 1 percent in Asian trade on Monday on mounting worries the new coronavirus outbreak could severely disrupt the Chinese economy, an engine of global growth.

China’s cabinet said it would extend the week-long Lunar New Year holiday by three days to February 2 and Hong Kong banned residents of China’s Hubei province, where the new coronavirus outbreak was first reported, from entering the city.

Tokyo’s key Nikkei index dropped more than two percent at the open on Monday on concerns over the potential impact of the new coronavirus that has killed 80 people in China.

The benchmark Nikkei 225 index lost 2.04 percent, or 486.13 points, to 23,341.05 in early trade, while the broader Topix index fell 1.84 percent, or 31.77 points, to 1,698.67.