World shares slump for fifth day, bets grow on interest rate cuts to counter damage

LONDON - World stocks tumbled for the fifth straight day on Wednesday, while safe-haven gold rose back towards seven-year highs and U.S. bond yields held near record lows after governments and health authorities warned of a possible coronavirus pandemic.

Adding to alarm, the World Health Organization said the epidemic had peaked in China, but urged other countries to prepare for virus outbreaks. The U.S. Centers for Disease Control and Prevention also, in a change of tone, advised Americans to be ready for community spread of the virus. Those fears of severe economic damage, even a recession, have sent MSCI’s all-country equity index to 2-1/2-month lows, wiping almost $3 trillion off its value this week alone. chart

Analysts note growing bets on interest rate cuts - expectations that monetary policy would be deployed yet again to head off any downturn. The rate cut expectations weighed on the dollar while continued to pullback against the yen from recent 10-month high of 112.23 yen. It traded around 110 yen.

5% is hardly a slump. Drop more. You can't make money from stocks if they don't slump.

lookner

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coldplay Unlock Their Inner Child in 'Champion of the World' VideoLatest ‘Everyday Life’ visual sees frontman Chris Martin as a schoolboy What a wank band!
Source: RollingStone - 🏆 483. / 51 Read more »

Everything we know about 'Jurassic World 3' so farAnyone who saw Jurassic World: Fallen Kingdom was treated to an ending with pretty big implications. Dinosaurs are on the…
Source: EW - 🏆 713. / 51 Read more »

Chris Pratt Reveals Jurassic World 3's Ominous New Title Dominion on First Day of ShootingJurassic World: Dominion will hit theaters June 11, 2021
Source: people - 🏆 712. / 51 Read more »

The world economy will shrink if the coronavirus outbreak isn't contained: Egyptian billionaireDisruptions caused by the coronavirus will cause the world economy to shrink if the outbreak continues, Egyptian billionaire Naguib Sawiris told CNBC. not just a billionaire he's a genius too! Let's face it, the economy serves humanity, not humanity serves the economy, and it would be a greater disaster for the plutocrats to ignore life because of the economy. CCP, fed by foreign trade, is finally starting to bite back. I drove to Los Angeles, CA yesterday then attempted to save money by parking elsewhere and using a scooter to get to my destination. Might of saved a penny and I got some exercise
Source: CNBC - 🏆 12. / 72 Read more »

Next 'Jurassic World' Movie Is Called 'Dominion'Filmmaker Colin Trevorrow tweeted a photo from the first day of filming, with the revelation that the third installment is called 'JurassicWorld: Dominion' Rawr ;3 👏👏 Enjoy BC - Colin, Pat Crowley and Frank Marshall
Source: THR - 🏆 411. / 53 Read more »