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Global Stocks Slide on Coronavirus Fears

Stocks and crude oil tumbled Monday on concerns about a dangerous viral outbreak in China, as the detection of infected patients in the U.S., Australia and France led to escalating concerns about its containment and potential economic impact. Futures linked to the Dow Jones Industrial Average index dropped 1.5%. In Europe, the Stoxx Europe 600 retreated 2.1%, led by declines in the U.K. and France. The Chinese yuan slumped 0.8% against the dollar in offshore trading and the Australian dollar declined 0.7%. The coronavirus has infected more than 2,700 people ...

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Stocks, oil hit by China virus fears, safe havens gain

World shares fell to their lowest in two weeks on Monday as worries grew about the economic impact of China’s spreading coronavirus with demand spiking for safe-haven assets such as Japanese yen and Treasury notes. The death toll from the coronavirus outbreak in China rose to 81 and the virus spread to more than 10 countries, including France, Japan and the United States. Some health experts questioned whether China can contain the epidemic. The MSCI All-Country World Index , which tracks shares across 47 countries, was down 0.42% to its ...

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UK watchdog tells markets – be ready in case of no EU trade deal

Financial firms in Britain should be ready in case no trade agreement is struck with the European Union by December, a senior UK regulator said on Thursday. Britain leaves the EU next week, followed by a “business as usual” transition that ends in December. Britain and the EU will formally begin trade talks in coming weeks. “Firms still need to ensure they are prepared for a range of scenarios that may happen at the end of 2020,” said Nausicaa Delfas, executive director of international at the Financial Conduct Authority. Britain’s ...

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History shows China’s coronavirus impact on markets likely to be short-lived

As China’s Wuhan virus spreads, it is expected to continue slamming Chinese and other financial markets, but economists say it may ultimately have more impact on sentiment than be a lasting negative for the economy or markets. Strategists also point to the reaction in Chinese and other Asian markets following the SARS virus, which declined as the outbreak spread but bounced back once it was contained. For now, strategists expect a more direct impact in Asian markets with a less intense hit to U.S. stocks though investors have been moving ...

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European Stocks Rally on Optimism About Economy

European stocks rose Friday as fresh economic data signaling a halt to the slowdown in the German manufacturing sector buoyed investors’ sentiment. The pan-continental Stoxx Europe 600 index gained 1.2%, while futures tied to the Dow Jones Industrial Average edged up 0.3%. Preliminary data on purchasing managers’ indexes, closely watched measures of business activity, suggested that the manufacturing sector in the eurozone — and Germany, in particular — fared better than the market had expected in January. Factories in the region saw export orders begin to stabilize after a long ...

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Global stocks hold steady but virus anxiety lingers as millions travel for Lunar New Year break

Asian shares steadied on Friday in holiday-thinned trade for the Lunar New Year, despite fears that a new coronavirus from China could spread rapidly as millions of people travel over the week-long break. Most markets had stabilized overnight, as investors took some solace from the World Health Organisation (WHO) labelling the outbreak an emergency for China, where 25 people have died and more than 800 have been infected, but not, as yet, for the rest of the world. European shares, which had closed before the WHO announcement, were expected to ...

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Global Stocks Slide After China Locks Down Cities

Global stocks slumped Thursday as China grappled with a worsening viral outbreak, leading investors to reassess the potential economic fallout world-wide. Futures linked to the Dow Jones Industrial Average edged down 0.1%, while the pan-continental Stoxx Europe 600 slipped 0.2%. The Shanghai Composite Index sank 2.8%, its biggest drop since May, on the final day of trading before the market closes for the Lunar New Year holiday period. The Chinese government on Thursday locked down Wuhan, where the new coronavirus originated, as well as a second city in a dramatic ...

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How an external event could stunt U.S. stocks

History does not always repeat itself in the stock market, but it is always instructive. Overbought markets tend to be vulnerable. Sometimes it is an exogenous event that topples stocks. What could be happening currently? Could it be that the deadly virus spreading across China stops the buying frenzy in stocks? The first U.S. case was reported Tuesday. There is a mania going on in the stock market, but not in the terms you would think. Before you send me hate mail for raining on the parade, remember that The ...

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Sustainability Is Key if Financial Markets Are to Remain Buoyant

With the global economy back on a more stable footing, the focus of policy-makers is shifting towards creating a more inclusive and sustainable economy. Indeed, for the future of financial markets to be bright, leaders must embrace structural reforms including social and environmental policies, placing sustainability at the core. This long-term perspective is enabled by a more upbeat short-term outlook – global economic growth has improved dramatically in recent months. First, the completion of phase one of the United States-China trade deal has boosted confidence. Second, global central banks are ...

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Virus fears keep stocks red; ECB gets ready to rethink

World shares fell on Thursday, led by the biggest decline in Chinese stocks in more than eight months, as concern mounted about the spread of a deadly virus in China. With millions of Chinese preparing to travel for the Lunar New Year, the potential the disease to spread, along with the tendency of traders to reduce their exposure before holidays, left markets struggling. Safe options like Japan’s yen and government bonds rose, while European stocks followed Asia lower [.EU]. The threat to airline travel and an increase in supply pushed ...

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Investor behavior is eerily similar to that of January 2018 — a selloff is brewing, warns strategist

Investors are facing a new worry on their return from a long weekend: the potential that China’s coronavirus will spread massively during a big upcoming national holiday. “The worry is this is another SARS, an outbreak that saw thousands infected and led to hundreds of deaths. It also led to billions of dollars of losses and hit Chinese GDP growth by up to 1 percentage point,” said Neil Wilson, chief market analyst at trading platform Markets.com. A repeat of that would mean the International Monetary Fund’s latest and less-optimistic forecasts ...

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Global Stocks Edge Up as China Takes Steps to Contain Outbreak

Global stocks edged up on Wednesday as investors cheered Chinese authorities’ measures to contain the outbreak of a potentially deadly virus. Futures tied to the Dow Jones Industrial Average rose 0.3%. The pan-continental Stoxx Europe 600 ticked up 0.1%, while Hong Kong’s Hang Seng Index ended the day 1.3% higher. Hospitals are stepping up preventive measures, Chinese officials said at a media briefing in Beijing. Authorities are recommending people not go into or out of Wuhan, the central Chinese city where the virus originated. Ministries and local governments are also ...

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European shares rise on China’s response to virus; German stocks hit record

European shares rose on Wednesday, boosted by a clutch of positive earnings updates and China’s effort to contain a virus outbreak, with trade-sensitive German shares hitting record levels for the first time in two years. Frankfurt’s DAX outperformed regional peers, following a survey on Tuesday that showed a U.S.-China trade truce had lifted German investor morale to its highest since 2015. “The DAX is breaking out to new highs with rising evidence that an industrial rebound is just around the corner,” said Jasper Lawler, head of research at London Capital ...

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Global Stocks Drop Amid Outbreak of Deadly Virus in China

Global stocks dropped on Tuesday, led by Asian markets, amid concerns about the rapid spread of a potentially deadly pneumonialike virus originating in central China. Futures tied to the Dow Jones Industrial Average edged down 0.2% after the public holiday on Monday. The pan-continental Stoxx Europe 600 index dropped 0.6%. The Shanghai Composite closed 1.4% lower in its biggest drop in over two months, while the Chinese yuan lost 0.5% against the dollar in offshore trading. The newly identified virus has spread between humans, a leading Chinese health official said, ...

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China virus fear slams European shares

European shares were on pace for their sharpest decline in three weeks on Tuesday, as mounting concerns over a new coronavirus outbreak originating in China sparked a rush to safe-haven bets. The increased threat of infection, as millions travel for the Lunar New Year holidays, reminded investors of the economic fallout from the SARS crisis in 2003 that killed nearly 800 people. Long-haul flight operators Air France, Lufthansa and British Airways-owner IAG slipped about 2%, while China-exposed luxury goods makers including LVMH, Kering, Hermes and Burberry were also among the ...

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