Traders work after the opening bell at the New York Stock Exchange on January 29 2020 in New York City, the US. Picture: AFP/JOHANNES EISELE
MSCI’s broadest index of world shares got back to flat. Asia-Pacific shares outside Japan extended their fall, however, dropping 0.4%, and appeared set for their worst weekly loss in a year, of 4.6%. Thursday’s 2.3% dive was the sharpest one-day loss in six months. “We have seen a position unwind and ... whatever is coming out in terms of data is for the period when the virus hadn’t become such a big issue.”Wall Street’s S&P 500 futures turned red again in Europe, having rebounded as much 0.5% overnight.
“Some shorts covered after the director gave the WHO’s stamp of approval to China’s aggressive containment effort,” said Stephen Innes, Asia-Pacific market strategist at AxiCorp.Sentiment received a boost when Amazon’s sales blew past forecasts and sent its stock soaring 11% after hours, adding more than $100bn in market value.
The yield curve between three-month bills and 10-year notes has inverted twice this week, a bearish economic signal.
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