The Australian sharemarket has lost 130 billion dollars in three days following a stellar start to 2020.
Both domestic and American stocks took a beating this week after health authorities warned of an outbreak in the United States.
All types of companies are suffering, with concerns raised that the impact of the global viral outbreak will be long-term.
And it's not just markets feeling the pressure. The promised budget surplus looks likely to be wiped out.
In the meantime, the Government says they have a plan to deal with the coronavirus.
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