Virus fears escalate, Dow tumbles into bear market

UBS is still bullish on Qantas despite slashing its price target for the airline.

Morgan Stanley has attached a 60 to 70 per cent probability of trade being correct, describing the odds as “likely”. Mr Hynes said sentiment wasn’t by news US crude oil inventories swelled by 7.66 million barrels last week, according to EIA data, the biggest increase in four months. It needs to be done while abandoning Frydenberg's budget night promise that we would see "the first surplus in 12 years and the first repayment made on Labor's debt".

Unfortunately for skittish financial markets, it wasn’t enough to stop the rot with the UK FTSE giving up early gains to finish with a loss of 1.4 per cent. He believes markets will be looking for a term funding-type scheme to support cash flow for businesses, especially smaller firms.The coronavirus is deadly – itend up killing quite a few oldies – but we are making so much fuss about it mainly because it’s new. Thanks to that fuss, it’s likely to do more damage to the economy than it does to life and limb.

The RBA has plenty of ammo left.....

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Dow falls into bear market, ASX to dive as virus panic grips investorsThe Australian sharemarket is set for heavy falls this morning as Wall Street plunged again. ScottMorrisonMP GregHuntMP please don’t let Australia be the next Italy. Close the border. Shut everything down for 2 weeks. Social distancing now not when it’s too late. covid2019australia CODVID19 lives more important than economy But the media were trumpeting a massive rebound only days ago I can’t think of anything better than stocks being back at 2016 levels. This central bank produced sh*t show is better than any Netflix drama.
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