Global stocks slide to two-week low on China virus fears, safe havens gain | Malay Mail

Tuesday, 28 Jan 2020 07:20 AM MYT

Crude prices dropped below US$60 a barrel for the first time in nearly three months, while gold prices surged 1 per cent to nearly a three-week high before paring gains. MSCI's gauge of stocks across the globe shed 1.62 per cent to a three-week low, while its emerging market index lost 1.59 per cent. The Nasdaq had its biggest one-day decline since August 23 while for the Dow it was the biggest since October 2, closing lower for a fifth straight day in its longest losing streak since a five-day decline ending last August. The S&P 500 also posted its biggest daily drop since October 2.

“The market was due for a fall and coronavirus is a perfect case of an unknown unknown. An increase in uncertainty causes the market to fall but the real question here does it affect the global economy?” he said.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks drop as new coronavirus fears escalate | Malay MailTOKYO, Jan 27 ― Shares slid today as investors shunned equities on growing concerns over the scope of a China virus outbreak, with safe-haven assets such as the Japanese yen and Treasury notes in greater demand. US S&P 500 mini futures shed 1.2 per cent in early Asian trade. The Nikkei... They are dramaticlly under playing the severity of this issue. The Chinese are potentially covering up wire a bit. We need to look into the real numbers
Source: malaymail - 🏆 1. / 86 Read more »

Companies in China extend holidays, ask staff to work from home as virus spreads | Malay MailBEIJING, Jan 27 ― Big businesses across China are temporarily shutting stores or advising staff to work from home, to guard against the spread of a flu-like virus as the tally of deaths rose to 80, with more than 2,700 people infected. Companies are also offering longer holidays, cancelling...
Source: malaymail - 🏆 1. / 86 Read more »