SINGAPORE - Asian stock markets fought to stabilize on Thursday, as the latest promise of stimulus from the European Central Bank propped up sentiment while the world struggles to contain the coronavirus pandemic.
“It’s given us a shot in the arm,” said Michael McCarthy, chief market strategist at brokerage CMC Markets in Sydney, but he added he expects it to be short-lived. In currency markets, the dollar is king and jumped to a three-year high overnight amid a rush for the world’s reserve currency in times of crisis.
“It is serious. Take it seriously,” German Chancellor Angela Merkel told her nation in a televised speech amid the shutdown of almost everything except bakeries, banks, pharmacies and grocers.
It’s a bizarre situation- you’re trying to quell the situation with fiscal policy but you don’t know just how much you’re going to have to do (how long the virus keeps people not working)- so the market keeps stalling...rightly so!
The greatest moment to BUY stocks at a discount. Specially solid stocks like let’s say amazon or google. That you know they’re down not because of bad finances or they’re going bankrupt but just due to simple panic.
Soon folks will be pulling money out of their banks. Then the big boom hits.
People who have liquidated share portfolios to move into cash will lose real money at current rates and will miss the inevitable upswing.
All these greedy investors need to chill out, please? Instead they are going to fuck all of us over just like they have been doing for years 👍
CoronaAlert has led to a massive economic crisis. Get all the Facts about the number of affected countries by the novel coronavirus. COVID CoronaVirusUpdate
A RunOnTheBanks would cause total social collapse MartialLaw CoronaVirus
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