Share slide goes on pause after the wave of early selling peters out
Sydney — Asian share markets found some stability on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce, allowing investors to take a breather from coronavirus fears.
South Korea’s hard-hit market eked out a 0.6% rise and helped MSCI’s broadest index of Asia-Pacific shares outside Japan fight back to flat. The risks were such that bond markets were wagering central banks would have to ride to the rescue with new stimulus. The Dow had ended Monday down 3.55%, while the S&P 500 lost 3.35% and the Nasdaq 3.71%. Wall Street’s fear gauge, the CBOE Volatility Index, jumped to its highest close since early 2019.
“If travel restrictions and supply-chain disruptions spread, the impact on global growth could be more widespread and longer lasting,” said Jonas Glotermann at Capital Economics.
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