Deepening fears about the economic and human impact of the deadly coronavirus sent stocks, crude oil and China’s yuan tumbling Monday, and spurred haven assets higher.
Futures on Chinese shares fell more than 5% and the yuan erased this month’s trade-deal driven gains in wake of news that the virus continues to spread, with no peak in sight. Contracts on the S&P 500 Index fell more than 1% before paring losses, while Japanese equities and European futures retreated over 1%. Ten-year Treasury yields and West Texas crude both hit their lowest levels since October. The yen climbed.
“Any economic shock to China’s colossal industrial and consumption engines will spread rapidly to other countries through the increased trade and financial linkages associated with globalization,” Stephen Innes, chief Asia market strategist at Axitrader, wrote in a note Monday. “I’m starting to think cash is the right place to be for the next few weeks.”
Nikkei -2.03% Hang Seng Closed CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.1028 CNH 6.9668 CNY 6.9109 JPY 109.08 GBP 1.3065 CHF 0.9710 RUB 62.2950 WTI$ 52.96 -2.27%
S&P -0.99% EuroStoxx -1.33% FTSE -1.23% Dax -1.37% SMI
Macro :
- China’s Xi Steps in as Deadly Virus Spreads to Four Continents
- Banks Head Into Darkest Phase of the Nordic Negative-Rate Cycle
- ECB’s Newest Stimulus for Germany Is Love Bombing by Lagarde
Keep an eye on :
- AM1 FH : Ahlstrom-Munksjo Pulp Plant Closed After Gas Leak: Expressen
- AZN LN : Allergan to Sell Medications to Nestle, AstraZeneca; No Terms
- BARC LN : Banks to Ask for 4 Billion Pound Tax Cuts Post-Brexit: Telegraph
- BAYN GY : Bayer Cuts Crispr Therapeutics Stake to 6.1%, May Sell More
- BCART BB : Biocartis CFO Welten Resigns, Recruiting Process Started
- CSGN SW : FINMA Probes Board Role in Credit Suisse Spying Case: Rtrs
- DB1 GY : Deutsche Boerse: TLG Immobilien Free-Float Adjustment in SDAX
- EVK GY : Advent’s $3.3 Billion Roehm Deal Looks to Rekindle Chemical Icon
- FER SM : Ferrovial Sells Broadspectrum to Ventia for 303 Million Euros
- FCAU IM : Fiat Seeks Dismissal of GM Suit Alleging Years of Union Bribes
- GLEN LN : Vicentin is Said in Buyout Talks With Glencore, Others: Reuters
- GHE LN : Gresham House Says Performance is in Line With Expectations
- HMB SS : H&M Closes 13 Clothes Stores in Wuhan Area in China, SvD Says
- ILD FP : Iliad Completes EU1.4b Capital Increase to Finance Buyback
- LMN SW : LM Group Says in Talks With PE Groups, Others on Lastminute.com
- LAND SW : Landis+Gyr Sees FY Results at Lower End; Changes Dividend Policy
- LUPE SS : Lundin Petroleum Targets Carbon Neutrality, Changes Name
- NESN SW : Nestle Buys Zenpep from Allergan in Medical-Nutrition Boost
- NMC LN : Muddy Waters Report Hammers Billionaire’s Health Firm: QuickTake
- NOVOB DC : U.K. Advisory Agency Declines to Recommend Novo’s Obesity Drug
- UG FP : France’s Groupe PSA to Repatriate 38 People in Wuhan Area
- RNO FP : Renault Board to Meet Early This Week to Name De Meo CEO: Echos
- RNO FP : Reuters: Renault, Nissan chief engineers to meet, revive R&D projects: sources
https://t.co/KsawU00zqf https://t.co/ieEVHtdFHo
- ROG SW : Roche Submits Suppl. FDA Application for Combined Tecentriq
- ROL LN : Rotala Says Performance is in Line With Market Expectations
- SANN FW : Santhera Full Year Sales CHF27.9 Mln, -12% Y/y
- STM FP : STMicroelectronics Could Reach Revenue Goal in 2022: Corriere
- TEF SM : Telefonica Hires MS for Sale of Tech Unit Stake: Confidencial
- TNET BB : Telenet Successfully Issues New $2.3B and EU1.11B Term Loans
- TIFS LN : TI Fluid Sees Earnings in Line With Expectations
- VELO DC : Veloxis’s Last day of Trading Is Expected to Be on Feb. 24