"(The) market is wondering what the Fed knows that the rest of us don’t," said Phil Orlando, chief equity market strategist at Federated Hermes in New York. "Is COVID-19 an even bigger deal than we think?"
SYDNEY: Stock markets and the dollar fell heavily on Monday, after emergency rate cuts in the United States and New Zealand failed to allay fears about the coronavirus' economic shock.
U.S. stock futures hit their downlimit before daybreak in Singapore. The dollar sank more than 2% against the yen.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
