SYDNEY - Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts.
E-Mini futures for the S&P 500 skidded 1.2% right from the bell, and Japan’s Nikkei 3.7%. EUROSTOXXX 50 futures fell 0.6% and FTSE futures 1.3%. Rodrigo Catril, a senior FX strategist at NAB, said the main question for markets was whether all the stimulus would be enough to help the global economy withstand the shock.
U.S. President Donald Trump on Sunday extended guidelines for social restrictions to April 30, despite earlier talking about reopening the economy for Easter. “Ultimately, we expect the USD will soon reassert itself as one of the strongest currencies,” argued analysts at CBA, noting the dollar’s role as the world’s reserve currency made it a countercyclical hedge for investors.
I hope they never recover. And America has a price to pay too.
Pure greed at a time of Crisis around the world... No people equates to no shares at all.. and no business.
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