⁍ Asian markets look set to continue a downward path on Tuesday.
⁍ U.S. indices fell sharply to open the week’s trading.
⁍ Renewed coronavirus fears drove investors into a host of safe-haven investments.
– The Dow fell more than 500 points on Monday, its biggest drop in more than two years, as investors worried about the spread of a deadly virus that has infected hundreds of people around the world. The Dow dropped 465 points, or 1.9%, while the S&P 500 and Nasdaq dropped by 1.6% and 1.9%, respectively, the Wall Street Journal reports. Markets in Europe and Asia were also down in early trading, reports Reuters, which notes that the sell-off came as coronavirus cases jumped to record highs in the US, Russia, and France. “The challenge for markets is that in most cases they are already pricing a very strong economic bounce. The new outbreaks, and the potential for a double-dip recession, directly contradict this assumption,” a market strategist in Sydney tells Reuters.
Source: https://www.reuters.com/article/us-global-markets/asian-shares-struggle-to-shake-off-us-selloff-amid-coronavirus-comeback-idUSKBN27B2RJ