Image Source: TRIBUNE

Investors erased $420 billion from China’s benchmark stock index on Monday, sold the yuan and dumped commodities as fears about the spreading coronavirus and its economic impact drove selling on the first day of trade in China since the Lunar New Year.

The market slide came even as the central bank poured cash into the financial system — a show of support for the economy -and despite apparent regulatory moves to curb selling.

The total number of deaths in China from the coronavirus rose to 361 as of Sunday. It had stood at 17 when Chinese markets last traded on January 23.