Increased spending for italys health care sector, and moves to extraordinary layouts. Damage from the virus to the Nations Companies will be serious and widespread. A top olympic official says there is no way to cancel the Olympic Games in tokyo. As of now, they are set to begin in japan as scheduled. Official said a decision would be made at the end of a. May. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im ritika gupta. This is bloomberg. 1 00 in new york, five 00 in london, 1 00 in hong kong. Im taylor riggs. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories on the bloomberg and from around the world that we are following. The Federal Reserve going all in, slashing Interest Rates by a full percent, promising to boost its bondholders by at least 700 billion. But those moves failing to stop the run in global markets. Equities plunging the m
74 basis points. Everything is down. I would imagine 90 of stocks are down. All 11 major indices are down in the region today in very high volumes. At this point, there is nowhere to hide, at least in the equity markets. Yvonne President Donald Trump announcing a suspension of all travel from europe to the u. S. For the next 30 days. The most farreaching measure yet in the administrations effort to combat the spread of the coronavirus. To keep new cases from entering our shores, we will be suspending all travel from europe to the u. S. For the next 30 days. The new rules will go into effect friday at midnight. David our Senior International editor, jodi schneider, is here with us. Thats a big deal. It is. There was a little bit of talk about it before hand, but not necessarily expected to stop all of the european travel for 30 days starting friday. It is something he can do without congressional approval. It is a major move. Also the way the president cast it. Clearly by having the spe
Volumesaining 4. 5 , higher than average. Thethe dow, about 76 above 20 day average. For the nasdaq, about 50 above. Romaine as far as some of your leaders, kind of a mixed bag. Scarlet cosco comedy that costco, the best performer in the s p 500. I am thinking about volatility. Extraordinary gain as you and romain were talking about. More big moves to the upside and probably the downside are ahead. The spring500 during and summer. When it broke, it broke into huge moves. Both the upside and downside. We are looking at the best day since then. Relatively small moves, especially in the last quarter of last year. These huge, with moves to the downside, volatility is back. Volatility breeds volatility. There is probably more ahead as investors try to figure out what this coronavirus will mean for the global economy. Like most sectors, financials did really well despite the fact that the outlook for Interest Rates is not great. Treasury yields, new lows again. Financials were among the hard
Risk assets take a beating. U. S. Stock features plummet limit dad down amid a selloff. Europe points to more losses and Oil Nosedives below 30 in new york as an opec plus breakdown see saudi arabia prices saudi arabia slash prices. The entire Treasury Curve sits below 1 for the first time in history. The yen surges the highest level in three years and gold briefly tops 1700 an ounce. Billion in counting. That is how much governments have pledged to pump into the Global Economy to combat the coronavirus. But is it enough, the current market verdict is absolutely not. Awaye just under an hour from the start of cash equity trading in europe and u. K. Lets take a look at futures. A sea of red everywhere you look for risk assets. Seene personally never futures this low. Of course i was not here for the financial crisis, but we have more than 6 drop across the board. Features down seven and a quarter percent. Drops inmassive futures. Said,o see futures, as i limit down in the u. S. They bum
And infections surge around the world with outbreaks and 65 countries. Withe a 50 jump in cases 34 people know dead. Well, what a day. Take a look at markets right now. Lets start with bonds. Were going to take a look at the aussie three year, hitting a record low at. 35 . The aussie 10 year, pretty weak. The new zealand 10 year also slipping. Were seeing yields on bonds falling to levels previously unseen. Barrel. Ude 49 a wti is below 45 a barrel. Lets check in on currencies. Dollargot the kiwi trading like this. Coming in betterthanexpected , 2. 6 . But this predates the coronaVirus Outbreak. Weve seen exports rise in new zealand to 1. 7 . The yen was a big mover, strengthening 3 against the u. S. Dollar. That trend looking to continue. A 54ussie dollar has handle, and that happened after we got those absolutely shocking pmi numbers out of china for february. So, hows that setting us up for Equities Trading around the region today . New zealand up and running and off 3. 2 . We have