Coronavirus fears extend Wall Street plunge as economic damage deepens

Wall Street has fallened heavily again as global fears accelerate about the rapid spread of the coronavirus. 

The Dow Jones Industrial Average ended 3.1 percent weaker after the US Centers for Disease Control said American communities should prepare for more cases. 

Treasurer Josh Frydenberg has warned the coronavirus epidemic will take a bigger toll on Australia's economy than the recent bushfires crisis. 

But despite the human and economic damage, Mr Frydenberg is refusing to back away from a forecast budget surplus - one of the government's key election platforms last year.

Here's my analysis from this morning's AM program