New York / Hong Kong (CNN Business) US stock futures and markets in Europe fell Monday despite reassurances from the world's central banks that they stand ready to help limit the economic and financial damage caused by the novel coronavirus outbreak.

Dow futures are off 180 points, or 0.7% lower, after falling as many as 500 points and gaining as many as 600 points throughout a roller coaster night. S&P 500 futures have slid 1%, while Nasdaq futures have skid 0.4%.

The losses follow a brief respite for stocks in Asia, which rebounded after Bank of Japan Governor Haruhiko Kuroda promised that the country's central bank would provide "ample liquidity" to ensure stability in financial markets.

Nikkei 225 N225 Kospi KOSPI Hang Seng Index HSI Shanghai Composite SHCOMP Japan'sclosed 1% higher. South Korea'sfinished the day up 0.8%, while Hong Kong'srose 0.6%. China'swas nearly 3.2% higher.

this year if the outbreak continues to spread. And data out of China showed that factory output But optimism that central banks would be able to ease the economic pain was short-lived. The Organization for Economic Cooperation and Development warned Monday that global growth could be cut in halfthis year if the outbreak continues to spread. And data out of China showed that factory output collapsed last month

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