SHANGHAI - Stocks in Asia fell on Friday , following on from selloffs in the United States and Europe as investors feared the economic impact of an accelerating rise in coronavirus infections.
US Federal Reserve Chair Jerome Powell said on Thursday during a discussion with other central bankers that progress in developing a coronavirus vaccine was welcome news but that near-term economic risks remain as infections accelerate, underscoring the likely need for additional government stimulus.
"My view is this is the dark just before dawn," said Michael Frazis, portfolio manager at Frazis Capital Partners in Sydney. Frazis said many risks nevertheless remained for short-term traders amid ongoing uncertainty over issues like the US stimulus response. On Friday, US yields continued to tick lower, with benchmark 10-year Treasury notes yielding 0.8766 per cent, compared to a Thursday close of 0.886 per cent.