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Asia plunges, European & US futures collapse as panicked investors seek safe haven from perfect storm ravaging markets | |
(32 minutes later) | |
Asian markets are trading deep in the red, while gold reached a fresh 7-year peak, as S&P, Dow and Nasdaq futures entered a free fall amid a dramatic oil market crash and concerns over the coronavirus-hit global economy slowdown. | Asian markets are trading deep in the red, while gold reached a fresh 7-year peak, as S&P, Dow and Nasdaq futures entered a free fall amid a dramatic oil market crash and concerns over the coronavirus-hit global economy slowdown. |
Japan's Nikkei 225 and Topix were down 6 percent in morning trade, while a relatively safe-haven currency Japanese yen soared to a 3-year-high against the US dollar. | |
South Korea's Kopsi dropped nearly 3 percent, while Hong Kong's Hang Seng was down 3.6. Meanwhile in mainland China both Shanghai and Shenzhen composite fell more than 1.5 percent. | South Korea's Kopsi dropped nearly 3 percent, while Hong Kong's Hang Seng was down 3.6. Meanwhile in mainland China both Shanghai and Shenzhen composite fell more than 1.5 percent. |
In Europe, the Euro Stoxx 50 Futures sank more than 6 per cent, while the British FTSE 100 futures were down nearly 7 per cent. | |
Meanwhile futures for all three major American stock market indices S&P, Dow and Nasdaq are trading nearly 5 per cent down, with S&P 500 E-mini even hitting a limit overnight. The yield on 30-year US Treasuries briefly fell below 1 per cent – for the first time in history – while 10-year Treasuries traded below 0.5% for a while, threatening a chaotic Monday in the US. | |
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