Fears of a sustained global economic impact as the coronavirus rapidly spreads beyond China have sent investors scrambling to find safety with stock markets experiencing their largest weekly drop in a decade on increasing concerns that the coronavirus outbreak will turn into a global pandemic. While the rate of new cases slowed in China, the headlines that the virus is spreading at an increased rate outside China. This caused almost every single stock index in the world has spiralled lower but developed markets have borne the brunt. Winners of the week were high-grade government bonds that benefited from the safety bid and rate cut expectations.
The outbreak has triggered the biggest weekly stock market rout since the 2008 financial crisis, wiping $6 trillion off global equities.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
