South Korea’s Kospi index closed down 3.9
The pan-European Stoxx 600 benchmark tumbled 3.5%, with Britain’s FTSE 100, France’s CAC 40 and Germany’s DAX all falling sharply.
Stateside, Dow futures
“Regular readers will know that our four projected COVID-19 scenarios were ‘bad, worse, ugly, and unthinkable’,” Rabobank analysts said in a note Monday.
“Current news today suggests risks that the base case is rapidly shifting from ‘bad,’ meaning only China is impacted, to ‘ugly,’ where both emerging Asia and developed economies see soaring infection rates and deaths.”
South Korea’s government raised the
Meanwhile, Iran has now reported 12 deaths and up to 61
Oil prices were also tumbling, with Brent Crude futures down by around 3.7% to $56.34 per barrel and WTI
Traditional “safe-haven” assets were surging as investors ran for cover, with gold jumping another 2.5% to new seven-year highs of around $1,685 per troy ounce.
U.S. Treasury yields, which move inversely to
Germany’s 10-year Bund yield fell by more than 13.8% to -0.4930%.