London — World stock markets looked to be getting back to full strength on Wednesday, as updates from China about the spread of a new flu-like coronavirus raised hopes that the outbreak would be contained.

Worries about contagion, particularly as millions travel for upcoming Lunar New Year festivities, have knocked the world’s top equity markets off record peaks. The outbreak has revived memories of the severe acute respiratory syndrome (SARS) epidemic in 2002/2003, a coronavirus outbreak that killed nearly 800 people...

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