Stocks savaged, Italy on lockdown, Trump seeks to reassure as coronavirus spreads

Police officers wearing protective masks make checks on people at Milan's main train station following a government decree that has shut down large areas in the north of the country, to stem coronavirus contagion, Milan, Italy March 9, 2020. (Reuters)

All of Italy under lockdown, reeling financial markets and rioting prisoners made clear on Monday how the global coronavirus epidemic was extending its reach into all aspects of social and economic life.

Major European stock markets dived more than 7%, Japanese indexes fell over 5% and U.S. markets sank over 7% after Saudi Arabia launched an oil price war with Russia that sent investors already spooked by the coronavirus epidemic running for the exits.