How coronavirus became a market inferno and what was done to douse it

LONDON: From a January lockdown in a Chinese province to 10 million infections worldwide, the coronavirus' march across the globe has buffeted markets at every step these past six months, roiling the very plumbing of the global financial system.

By Jan. 27, the World Health Organisation declared an emergency in China, hitting the yuan and Chinese equities. On Feb. 3, China's central bank stepped up https://fingfx.thomsonreuters.com/gfx/editorcharts/xklpyzndovg/index.html with a US$174 billion liquidity injection, the first of many such actions worldwide. On Feb. 17, it cut interest rates and infused more cash into the system.On Feb. 10 , the WHO called the virus"a spark that becomes a bigger fire".

The following week, Wall Street's VIX volatility gauge surged above 85, versus month-ago levels around 15.

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