Global stocks drop as investors shun risk on coronavirus fears; Donald Trump administration unveils $1 trillion stimulus package for US
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3 percent, led by a 4.9 percent fall in Australia while Japan’s Nikkei gained 1.6 percent.
Dollar thrives, Aussie trampled in rush for liquidity amid deepening fear around coronavirus drives scramble for greenback
All other currencies are well-below where they were a week ago as investors sell just about everything for dollars and businesses seek to draw down loans and hoard cash to ride out the crisis.
Spot gold was up 0.9 percent at $1,543.60 per ounce by 0248 GMT, having risen as much as 2.8% earlier. The metal fell 3 percent on Friday. US gold futures rose 1.8 percent to $1,544.20 per ounce.
Markets on freefall: Sensex crashes over 3,100 points to 32,587; Nifty plunges 932 points at 9,526; ITC, Axis Bank, SBI, ONGC trade in red
Trump announced on Wednesday the United States will suspend all travel from Europe, except from the United Kingdom, to the United States for 30 days starting on Friday
Stock sell-off rolls to Asia, bonds rally on coronavirus risk stoking fears of a prolonged world economic slowdown
The spread of a new coronavirus has accelerated so much in Europe, Britain and North America that investors who once played down the virus are now re-assessing the risks, which means more volatility in financial markets
Global Markets: US stock futures fall as Donald Trump's tariff hike on China looms; two sides to resume negotiations today
US President Donald Trump said on Thursday he had received a “beautiful letter” from Chinese President Xi Jinping, stoking hopes of a deal.
Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.
Fed's James Bullard warns of recession risk in raising interest rates one more time; says inflation is not high
Bullard first publicly raised a red flag over the yield curve last year on 1 December. At that time the gap between the two-year and 10-year was 58 basis points.
Fed should go slow on unwinding balance sheet to limit impact of dollar in emerging markets, says RBI governor Urjit Patel
Given the rapid rise in the size of the US deficit, he said, the Fed must respond by slowing plans to shrink its balance sheet
US stock futures and Asian shares dipped after North Korea fired another missile over Japan into the Pacific Ocean on Friday
European equities fell and Germany's 10-year bond yield slid to a record low for a second day on Wednesday
Nasdaq plans "dark pool" where US treasuries' buy, sell interest is undisclosed
US Treasury bonds are falling, and this is indicative of the danger to stock markets. Both the Nifty and the Sensex are vulnerable.
While banks had so far used ample central bank liquidity to bolster balance sheets and buy safe-haven US Treasuries, Mobius said sentiment was turning towards greater risk appetite.
A continued positive return on the US dollar could mean a depreciating rupee. This scenario could play out over the long term.