Asian markets crash amid growing uncertainty

US, WASHINGTON (ORDO NEWS) — On Monday morning, Asian markets, as well as markets around the world, plummeted as the number of coronavirus cases soared over the weekend.

According to the World Health Organization (WHO), as of March 22, 294 110 confirmed cases of the disease and 12 944 deaths were registered in the world.

The S & P / ASX 200 index lost 7.34% at 22:25 Eastern time (02:25 GMT).

The Chinese Shanghai Composite Index lost 2.84%, while the Shenzhen Component fell 2.82%. Hong Kong’s Hang Seng Index hit 4.99%.

The South Korean KOSPI Index fell 5.30%.

The only bright spot on a gloomy background was the Japanese Nikkei 225 , gaining 0.22% after returning to duty after a national holiday.

Strategists from Goldman Sachs Kamakshi Trivedi and Zach Pandl warned in a research note on Sunday that the markets “are preparing for a global recession, so it should be on the alert.”

“Uncertainty about the depth and duration of the impact of the epidemic on the global economy is still high, and the dynamics of our and other economic forecasts are still negative and anticipates the risks of recession,” they added.


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The article is written and prepared by our foreign editors from different countries around the world – material edited and published by Ordo News staff in our US newsroom press.