Investors are ignoring fiscal and monetary help around the world, as uncertainties strengthened by the rise in deaths reported from the coronavirus outbreak coupled with weakening economic outlook.
The American dollar rose on everything else on Thursday as stimulus central bank measures in Europe, Japan, the United States, and Australia failed to halt a fresh wave of panic sell-offs.
Stocks, bonds, gold, and commodities fell as the world struggles to contain coronavirus and investors and businesses scramble for hard cash.
Nearly every stock market in Asia was down, as circuit breakers were hit in South Korea, Indonesia. MSCI’s broadest index of Asia-Pacific shares outside Japan fell about 5% to a four-year low, with Korea and Taiwan leading losses.
In currencies, everything except the dollar and the euro collapsed. Sterling teetered near its lowest since at least 1985. The yen fell 1% to 109.16 per dollar.
Oil prices surged on Thursday but pared early gains as investors tried to assess how effective massive stimulus by central banks will be in shoring up the global economy as the shock from the coronavirus pandemic deepens.
Brent crude was up 1.6% at $26.48 a barrel by 9.05 am Nigerian time, having earlier risen to $27.19.
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