World braces for nCoV pandemic; wide recession speculation

28.02.2020 - Kulakov Vladimir
World braces for nCoV pandemic; wide recession speculation

BEIJING- Optimism that the coronavirus contagion would be contained in China disappeared on Friday as the disease reached wider scope, hitting other nations. To prepare for a worldwide pandemic, countries started hoarding medical equipment and investors sought safety on the possibility that a global recession may occur.

Shares fell flat and were heading towards its worst weekly session since the great financial crisis back in 2008. Share prices’ series of decline could all be attributed from virus-related disturbances directly affecting international travel and supply chains. These concerns may bring sharp recession in the United States and the European zone.

The U.S. stock market is on the process of correction with benchmark S&P 500 index shedding more than 4% on Thursday. The decline extended losses and has now wiped out more than 10% of its closing highs on Feb. 19. Asian stocks followed Wall Street’s decline on Friday.

“The coronavirus now looks like a pandemic. Markets can cope even if there is big risk as long as we can see the end of the tunnel,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

“But at the moment, no one can tell how long this will last and how severe it will get,” he added.


Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?