Tokyo — Financial markets reeled on Thursday as stocks dived and oil slumped after US President Donald Trump took the dramatic step of banning travel from Europe to reduce the effect of the coronavirus, threatening more disruptions to trade and the world economy.

US S&P 500 futures plummeted as much as 4.9% and last traded down 3.6%, a day after the S&P 500 lost 4.89%, putting the index firmly in a bear market territory, defined as a 20% fall from a recent top...

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