Stocks markets in Asia and index futures from the United States and Europe. Kospi and S&P/ASX 200 dropped over 5%. HSCEI is trading 3.7% down. Nikkei closed 2% higher after it was closed on Friday. DAX futures point to an over 5% bearish gap at session launch
The US Senate failed to agree on a $2 trillion pandemic rescue package. There is a high likelihood that the package will not be agreed today as Senate Majority Leader McConnell planned
RBNZ announced a quantitative easing programme worth 30 billion NZD. New Zealand dollar declines against most of the major currencies
Number of confirmed coronavirus cases increased to 339,234 while the death toll rose to 14,703. More US states order residents to stay at home. German Chancellor Angela Merkel has been put into quarantine after she contacted an infected person. McDonald’s will close restaurants in the UK and Ireland today. International Olympic Committee is said to be exploring options for Tokyo Games
Bank of Japan offered 800 billion JPY in repo operations
OPEC and US shale producers decided to start talks on the oil market situation. However, no details of the talks emerged over the weekend. Crude making a pull back at the beginning of a new week.
Gold and silver trade higher along with yen as risk aversion bites in. EUR and GBP are catching a bid as well. Industrial metals pull back
South Korean exports increased 10% YoY in the first 20 days of March
Coronavirus cases continue to rise dramatically. Number of confirmed cases in the United States jumped to above 35,000, putting it only behind Italy and China. Source: worldometers.