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Asian stocks set to fall sharply as Wall Street tumbles

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Asian equities are set to fall sharply on Friday after Wall Street stocks and oil tumbled over growing concerns that a resurgence of coronavirus infections could stunt the pace of reopening economies.

FILE PHOTO: People are seen on a pedestrian overpass with an electronic board showing the Dow Jones and S&P 500 indexes, following an outbreak of the novel coronavirus in the country, at Lujiazui financial district in Shanghai, China March 13, 2020. REUTERS/Aly Song

Australian S&P/ASX 200 futures were down 3.04% at 20:59 GMT, while Japan’s Nikkei 225 index closed down 2.82% at 22,472.91​​​​ on Thursday. Hong Kong’s Hang Seng index futures were down 2.06%. The U.S. Federal Reserve released a gloomy economic outlook at the end of its two-day monetary policy meeting on Wednesday. Chair Jerome Powell warned of a “long road” to recovery.

Oil prices tumbled on renewed concerns about demand, as new cases of the coronavirus disease rise globally, and a large buildup of U.S. crude inventories. [O/R]

 

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What were they thinking?

...........and?

Good

Great News!!! Chinese researchers developing a COVID19 vaccine say it showed promise in animal trials... produced antibodies that fought against the coronavirus in monkeys, rats, guinea pigs and rabbits....

futures are up.

Nah. More money going to Asia.

Ressecion inbound

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Cramer recommends buying these stocks after Thursday's brutal day on Wall Street'In a tough market, you need to circle the wagons around the few good names you feel comfortable buying and then buying more if they go lower,' the 'Mad Money' host said. Cramer all rant but he no stock great picker. ? why still on CNBC!?
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