Fiat markets around the world fell today as panic spreads over the spread of a novel coronavirus (archived). The novel coronavirus has inflicted a few casualties and appears rather easily transmissible, but reaction to the virus has been incredibly disruptive as well. China has quarantined Wuhan where the first cases appeared, suspended the sale of packaged tours, and extended the Lunar New Year holiday through February 2nd keeping local Chinese markets closed for the holiday.

Numerous cases of the illiness related to the novel coronavirus have already been diagnosed outside of China, mostly inside the US, but continued escalation of the panic and attempts at containment have the potential to be at least as disruptive as the novel respiratory tract virus.