Coronavirus panic sent world stock markets tumbling again on Friday, putting them on course for their largest weekly fall since the 2008 global financial crisis.

Over $5 trillion has been wiped from shares' market value so far this week. 

Wall Street stocks continue to tumble, suffering another steep decline as fears of an economic slowdown due to coronavirus again pummelled global markets. 

The Dow had shed more than 11% so far this week, while the broad-based S&P 500 sank 3.1% and the tech-rich Nasdaq Composite index fell 1.3%.

European markets all closed in the red. London's FTSE index dropped by 3.2%, while the Paris CAC fell 3.3% and the Frankfurt DAX slumped 4%. 

Dublin's ISEQ index sank by 2.6% to hit 6,397. 

Earlier in Asian trade, Tokyo's Nikkei index slumped 3.6% on rising fears the Olympics planned in July-August may be called off due to the coronavirus. The Hang Seng index in Hong Kong sank 2.42%, losing more than 4% since last Friday's close.