Bloomberg
Published Mar 12, 2020 21:43
Updated Mar 12, 2020 22:11
Asia Stocks Set to Tumble After Wall Street Rout: Markets Wrap
(Bloomberg) -- Stocks were primed for heavy losses in Asia after the worst Wall Street session since 1987, with investors fretting that emergency fiscal and monetary packages won’t be enough to stave off a recession.
The S&P 500 lost 9.5% and futures on Japan’s Nikkei 225 were down 8%. The global equities rout took Brazil’s benchmark down 15% on Thursday and Canada’s main gauge posted its worst day since 1940. Oil and precious metals fell, with palladium entering a bear market. The dollar surged.
“Markets remain in a free fall as uncertainty persists with no reliable anchor which can create near-term stability,” said Ben Emons, managing director of global macro strategy at Medley Global Advisors in New York.
Benchmark Treasury yields pared some declines after the Federal Reserve pledged $1.5 trillion in liquidity. Investors are trying to gauge how effective policy responses can be as coronavirus cases continue to grow across the world and restrictions on people and businesses crush sentiment. The European Central Bank eased capital constraints and boosted liquidity, and losses only deepened.
These are some of the most notable moves:
These are the main moves in markets:
Stocks
Written By: Bloomberg
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