Australian shares set to drop over 2% at open, NZ falls

Australian shares were poised to slump at
open on Wednesday, the fourth straight session of declines, as
the rapid global spread of the coronavirus beyond China rattled
risk sentiment.
With an acceleration of confirmed virus cases in several
countries such as South Korea and Iran, the U.S. Centers for
Disease Control and Prevention late on Wednesday said Americans
should begin to prepare for the U.S. spread of the new
coronavirus.
The local share pric