Chinese traders dump stocks from Wuhan amid coronavirus outbreak

Global equity prices have largely bounced back from the selloff after the first reports of the coronavirus outbreak in China, but traders are still punishing companies tied to Wuhan, China, the city at the center of the outbreak.

What happened: "Wuhan Department Store Group, which operates several malls in Wuhan, lost 3.1% to head for a weekly drop of 16%. Hubei Heyuan Gas Co., which generates all of its revenue from Hubei province, extended its two-day drop to 10%, the biggest on record," Bloomberg reports.