Trump travel ban prompts market meltdown as Dow hits lowest level since 1987 crash, Federal Reserve pumps US$1.5 trillion into system as fear index surges

Donald Trump's shock travel ban between Europe and the US has exacerbated steep falls on global sharemarkets. 

On Wall St, the Dow Jones Industrial Average ended 9.9 percent lower in the worst single day percentage fall since the 1987 sharemarket crash. 

Fears are rising that fallout from the coronavirus could trigger a new global financial crisis. 

ABC's Peter Ryan with the latest.