The economic shockwaves of the Wuhan coronavirus look likely to eclipse the 2003 SARS crisis , as shares in China fell dramatically and analysts downgraded their forecasts for the country’s growth.

The Shanghai Composite index fell by 8 per cent today, the largest daily drop for more than four years, despite the Chinese central bank saying yesterday it would inject $174 billion worth of liquidity into markets.

As the number of infections in China climbed to more than 14,000 , UK-based analysts Oxford Economics today cut its …