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Global stocks dive on pandemic impact, US travel ban

A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Thursday, March 12, 2020. Asian shares plunged Thursday after the World Health Organization declared a coronavirus pandemic and indexes sank on Wall Street. Japan's benchmark Nikkei 225 dived 4.2% in morning trading. (AP Photo/Eugene Hoshiko)

TOKYO — Global stocks plunged Thursday after U.S. President Donald Trump imposed a travel ban on most of Europe and offered little in the way of new measures to contain the economic impact of the virus outbreak.

European markets sank, with shares in airlines like Air France and Lufthansa down about 10%. Wall Street futures were down about 5%, likely putting the S&P 500 in a bear market when trading starts, like the Dow a day before.

Global markets began falling again after Trump’s address to the nation late Wednesday, in which he announced vast travel restrictions on Europe that aim to limit the virus from spreading but will further hurt the travel industry.