New Zealand is readying for a major economic shock as the world reacts with increasing alarm to the coronavirus outbreak which has now claimed 2,700 lives worldwide.
Although there are signs it may have peaked in China, the disease has now spread to more than 30 countries, and emergency efforts are being stepped up in South Korea, Italy and Iran.
At a hotel in Tenerife, more than 1,000 guests and workers are in quarantine after an Italian doctor and his wife tested positive for coronavirus.
In Iran there's been 16 deaths with the country's deputy health minister himself testing positive for coronavirus.
In Italy the death toll has risen to 11 with a 45 percent increase in the number of infections in the past 24 hours.
There are now 322 reported cases there. And there are also now cases in Austria and Switzerland.
World stock markets have fallen further amid investor concerns, including New Zealand's top-50 index, which opened this morning down almost two percent.
Here's RNZ political editor, Jane Patterson.
