World stock markets have fallen further amid investor concerns over the impact of the spreading coronavirus outbreak.
Wall Street fell 1 percent after World Health Organisation officials said the coronavirus was "a rapidly escalating epidemic".
Britain's FTSE 100 index has ended the day at its lowest closing level in a year, down 1.9 percent.
New Zealand's top 50 index fell as much as 3 percent yesterday, but it clawed back much of its losses to close at just over 1 percent down.
Those declines came on the heels of the worst day for global equities in two years.
Finance Minister Grant Robertson told to Corin Dann the Government is preparing for a hit on the economy and he has three scenarios in mind.
"One of them is where there is a level of containment that means we get back to normal within the next two or three months.
"The second scenario is where the outbreak is both spreads further and is longer lasting and has an impact through 2020 and obviously that scenario is becoming more likely.
"The third scenario is one where we do move towards a global recession that obviously has significant impacts on New Zealand."
