Global Markets:
- Asian Stock Markets : Nikkei down 6.02%, Shanghai Composite down 1.23%, Hang Seng down 1.51%, ASX up 4.42%
- Commodities : Gold at $1587.80 (-0.16%), Silver at $15.64 (-2.31%), Brent Oil at $34.41 (+3.58%), WTI Oil at $32.73 (+3.90%)
- Rates : US 10-year yield at 0.888, UK 10-year yield at 0.272, Germany 10-year yield at -0.615
News & Data:
- (EUR) Main Refinancing Rate 0.00% vs 0.00% expected
- (USD) PPI m/m -0.60% vs -0.10% expected
- (USD) Core PPI m/m -0.30% vs 0.10% expected
- Fed seen cutting interest rates to 0% soon in bid to help weather coronavirus storm
Markets Update:
Asian stock markets are plunging on Friday after U.S. stocks fell by the most since the “Black Monday” market crash in 1987. Global panic selling continued amid mounting fears that stimulus packages will not be enough to avert a global recession following the coronavirus outbreak.
The coronavirus outbreak has infected more than 125,000 people around the world and killed more than 4,600, according to figures from the World Health Organization.In Australia, shares recovered from earlier losses and made a dramatic comeback, with the S&P/ASX 200 closing 4.42% higher.
Mainland Chinese stocks saw losses on the day, with the Shanghai composite down 1.2% while the Shenzhen component was 1.1% lower. In Japan, the Nikkei 225 fell 6.08% to close at 17,431.05 after earlier plunging 10% during the session.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.406 after an earlier high of 97.743. Oil prices recovered on Friday in Asia following an emergency cash injection from the U.S. Federal Reserve.
Upcoming Events:
- 02:00 PM GMT – (USD) Prelim UoM Consumer Sentiment