Volatility is gripping the worlds major stock markets as the coronavirus pandemic censure values plummeting tokyos nikkei index closed on friday down 6 percent thats after it plunged by more than 10 percent on opening along with markets in thailand and india now it follows wall streets biggest drop since the black monday crash of 1987 theres another concern in the u. S. To a delay in testing for the virus a Top Health Official says the Current Situation is failing but that more testing kits will be made available in the coming week in europe schools across much of the continent have been closed for towns and spain now going into lockdown and the country is rolling out economic Protection Measures lets take a look at the job. Hopkins university tracker for the overall global picture there are now more than 128000 infections worldwide 4700 deaths and 68000 people have recovered from the corona virus live now to seoul and our correspondent rob mcbride so rob lets talk about the markets theyve closed in much of where you are how is it shaping up. Thats why when you combine this with yesterday thursdays carnage then the weekending on a very grim note extending these really very heavy losses that dropped by japans nikkei of more than 10 percent in early trade japan hasnt seen anything like that for 30 years it recovered somewhat during the day it would have to that was such a big drop but still like most of the other major markets here in asia ending very solidly in the red the nikkei down 6 percent the cost me thats the south korean index down 3. 00 and a half percent and so on its had the Central Bank Officials in a number of Asian Countries meeting with their respective finance Ministry Officials just trying to work out how they can take measures to support their own respective markets whether by buying bonds or maybe reducing Interest Rates but of course Interest Rates been the Central Banks here are historically low level in any case into japans case its down at 0 so theres very little latitude for movement it seems and many governments just have to stand back and see whats going to happen on their markets next its been a very wild ride all of this week mine meanwhile weve had a further remind the while this is the reaction of the equity markets which could still can steen you into see very real damage being done to the real economies in all of the Asian Countries that are affected by this coronavirus Singapore Today friday taking the remarkable decision to stop any for the forseeable future any person crew ships from coming to visit singapore so this is one of the worlds most important transport hubs a major tourism destination taking what is a very painful but probably it considers a very necessary decision to protect itself the markets in the market traders of course rob historically they like carm they like a little bit of confidence in the marketplace i guess in a way theyve got the weekend because there wont be any trading on the global stock exchanges around the world and then well wait for the markets to open Early Morning your time monday 1st thing. Thats right and they can be digesting what is fairly good news coming from the corona virus affected countries namely in this part of the world is south korea here and also china and we are getting some good news continuing to come out of both places for example in a province we are continuing to hear that there is a relaxation on some of the travel restrictions outside of province were hearing from officials in beijing that around 95 percent of some of the Larger Companies in china itself are now returning to work so slowly the worlds 2nd biggest economy continuing to recover and so much so that china now feels as though it can lend a helping hand it only reported 8 new cases across the whole of china today thats the 1st time friday that we have seen an increase in new cases in Single Digits its been able to send a team of doctors and nurses to italy to help in the fighting the coronavirus there sharing their experience and also sharing some of their stuff because of course china now has vast stockpiles of all of the materials that the rest of the world needs such as medical kits also things like ventilators which are in desperate need at the moment in italy so we have those measures taking place which is encouraging for the markets or it should be but all of the markets can see so far up until this friday is just the dire news thats coming from places like europe and the United States and theyre reacting accordingly rob many thanks lets bring in andrew starts hes c. E. O. Of a stots Investment Research she joins us to bangkok and welcome to al jazeera so Circuit Breakers not working Interest Rate cuts not working what will work to stabilize the markets. I think its going to be very hard to stabilize the markets what were going to need to see is the slowdown in the cases in thats starting to happen here but i think youve got the biggest problem of the whole Global Market is the u. S. Which is so humped up on low Interest Rates and so pumped up on share of valuations that you know its hard for asian markets to bounce back when there is what i would consider a pretty big overhang there is part of the problem when it comes to bouncing back the way that not the asian markets are structured but the way that business is structured in the region where you are because of the way the people work because of the way theyre employed because of the way the invest or dont invest yeah i mean i think that theres definitely is part of the last of the what you would call or that type of workers that could work from home or Something Like that theres a lot more manual work thats going on in factories and businesses so those are the types of businesses that may be a bit slower to get back to work whereas maybe in the west and other places if you can work online or thats a good thing you know its a different structure for sure and now were also seeing here that peoples wealth might as a risk be eradicated im not talking about wealthy people losing some money im talking about middle income people or low income people losing some or all of their money. Well i think the important parts of remember about that is weve already seen the asian markets falling while the u. S. Was rising over the last year or so so i dont think anybody here is in like the really pumped up there well from the market so thats the 1st reason why it probably isnt going to be a huge impact the 2nd one is that really the it heneage ration stock market investing here in egypt is still pretty small so the exposure to the market is still relatively small still i would say yes the middle class is going to suffer but it wont be so bad because the markets have already been down and also because an iteration in the investing in the market is much lower and restarts thank you. Well u. S. Restrictions on european travelers well theyre set to begin later today friday hundreds of passengers trying to make their way to the u. S. Lined up at the airport in madrid its estimated more than 7000 flights will be affected by a one month travel ban but some countries are exempt including the u. K. Ireland and ukraine those measures arent just having an Economic Impact theyre also straining already brittle diplomatic relations between washington and brussels and the white house is also under fire for inadequate Testing Facilities to meet the rising number of cases of coronavirus heres mike hanna. The irish Prime Minister arrives at the white house his bilateral meeting with the u. S. President one of the few events going ahead is shared jeweled island along with the United Kingdom 2 countries exempt from the sweeping travel ban which appears focused on the 26 European Union members of the Shingle Alliance giving rise to claims that the ban has been haphazardly applied when you think of what happened to europe because it was very fast and very furious and what happened is a lot of people went from china into europe and europe suffered tremendously see whats going on and so i just wanted to stop as it pertains to the United States or Public Access to the u. S. Capitol has been suspended but lawmakers in the house are continuing to discuss the bill to counter the economic and social impact of the coronavirus and also pacing questions about whether lawmakers should stay at home lets get this bill passed 1st and then well see where theyre from there because the fact is inside the house is on fire people are concerned about their of course the house and the health of their challenger democratic president ial candidate joe biden added his voice to the discussion about how best to deal with this ongoing crisis and was harshly critical of the efforts by the trumpet ministration public fears may become. More pervasive like and trust in this president. Why adversarial relationship with the truth that he continues to have this still public concern about the slow rollout of testing kits this despite claims by the trumpet ministration that anyone who needs a test can get one the web site of the center for Disease Control records said it has not conducted any tests over the past 4 days and the number of tests conducted by Public Health lads has dropped dramatically over the same period yesterday for example across the entire United States only 8 tests are reported. President trump maintains he is in no need of submitting to a test but this may change following reports that a man he met during talks with the brazilian leader at mar a lago last week has tested positive for the virus brazils communication minister pictured here on the president s left is awaiting the results of his 2nd test mike hanna aljazeera Washington Well a top u. S. Official who deals with Infectious Diseases as bluntly described the situation with respect to testing the coronavirus as quote a failing and me folks he made the comments to members of congress at a briefing on thursday the system does not. Is not really geared to what we need right now what you are asking for that is a failing and they are going yeah it is a failing there lets admit it the fact is the way the system was set up is that the Public Health component that dr that dr redfield was talking about was a system where you put it out there in the public and a physician asks for it and you get it the i hear of anybody getting it easily the way people in other countries are doing it were not set up for that do i think we should be yes but were not. Well across the world sporting events are being hit and hit hard English Premier League team chelsea have gone into self isolation thats after the forward calum hudson tested positive for coverage 19 an emergency meeting is due in the coming hours to decide the future of premier league games this season earlier the astral manager mikel arteta tested positive for the virus 2 in spain the leader has been suspended after the Real Madrid Team were placed into quarantine all north American Sports to have been cancelled all for sport and that includes the National Hockey league Major League Baseball and the n. B. A. College basketball championships have also been called off the organizers of formula one have cancelled the australian born prix over concerns to do with the coronavirus the event was due to be held in melbourne this weekend with about 100000 spectators a member of the mclaren team tested positive on thursday and is now being treated its not just formula one the one day cricket series between australia and new zealand will be played to empty stadiums australias Prime MinisterScott Morrison is urging people not to gather in groups of more than 500 the country has recorded 156 cases Nicholas Gage has more from sydney. A striker is slowly catching up to other parts of the world where sporting and Public Events are being held behind closed doors or being completely cancelled here at the Sydney Cricket Ground australia will take on new zealand in the one Day International in front of an empty stadium cricket australia announced that it would not be letting any spectators inside to prevent the spread of coronavirus in Melbourne Australia has grown pretty has been cancelled just hours before races were set to hit the truck to start training mclaren had earlier pulled out after one of its team members tested positive. But there have been some mixed messages other sporting events are still going ahead theres lots of confusion and i think theres lots of confusion around what is best practice and what should people be doing should there be a sporting event should there be cultural events should be open to the public the number of coronavirus cases in a stroller is continuing to rise and no surprise it is hitting the economy as well as the share market we have stocks plummeting the Australian Government has announced a 7 seyne 1000000000. 00 stimulus package handing out 750. 00 payments to some to try and prevent a recession for the 1st time in 29 years. Plentiful ground still to cover here on aljazeera including a unity government in israel to cool the coronavirus question is will Prime MinisterBenjamin Netanyahu succeed the opposition. And rights activists released from jail in the law we one of the put more pressure on the Prime Minister. I would say its a really heavy showers across eastern parts of the med its right in this area cloud will bring further down pulls in across the region back up towards the northwest still wary of settled to full parts of the British Isles north of there is if you have streaming in from the atlantic will be more wet and windy weather at times with some snow for good measure son of a blustery day on friday for many they snow in parts some snow there just around scandinavia in between weve got some bits and pieces of sherry right now sliding the way down across central and eastern parts of year there is that heavy rain that we have across the eastern side of the med gradually making its way away process guys do try to follow one behind temperatures 40 back a little a morsel 3 degrees celsius here 7 celsius there for moscow but the possibility of some rest now full coming into that western side of russia by sas say well see more wet weather just streaming in across the British Isles then through island had to scotland heavy rain here with some snow over the mountains not too bad in spain and portugal will warm sunshine here and that clear skies continue cost north and house will last apostle of africa we do have thats a wet weather across parts of asia this is cairo as you can see yesterday with the heavy rain which has caused flooding its now slowly but surely making its way east. Join the global conversation to pop the bubble to the people to expand their brains maybe have a different theory this is a dialogue that women in cambodia are in fact selling their hair we dont know how much theyre getting paid for it its hard to track its hard to trace everyone has a voice tell us what you think and your conversation could be a lot right here in this case we need to step away from gaming people are not necessarily game perfect this is a journey of progression not perfection on aljazeera. The arab. World. Welcome back youre watching out to syria live from the heart quick reminder of your top stories this hour Global Stock Markets plunging further due to the coronavirus pandemic major asian indices fell by our own 8 percent within minutes of opening tokyos nikkei index of closed down 6 percent. A top u. S. Health official says the government is failing to account for what could be found sins of infections because the testing system is not working more kits are expected to be made available in the coming week. The virus is forcing sporting events to be either postponed or canceled in north america the National Hockey league Major League Baseball and the n. B. A. All affected the australian grand prix has been called off. Ok lets move on to some other stories well related to the corona virus the israeli Prime MinisterBenjamin Netanyahu has called for the formation of an emergency government to confront the crisis mr netanyahu made the offer on a nationally televised address saying a new temporary administration with his chief rival benny gantz would quote save the lives of citizens he also ordered most schools to be closed harry force of joins us live from west jerusalem so harry what does he want to achieve here. Well he says that he what is required it is a an emergency unity government one which can address the crisis the ticks as usual on hold for the duration