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Surge in Coronavirus Spooks Investors as China Takes Profits
Record fatalities in a few US states, coupled with new travel restrictions in Italy and Australia, have given markets a pause ahead of the weekend. News that two state-backed funds in China took profits snapped the eight-day advance in Shanghai at the same time as there is an attempt to rein in the use of margin. Many of the largest markets in the Asia Pacific region fell by 1-2%, This pared the weekly gains in most markets, but sent the Nikkei and Kospi lower for the week. European shares are trying to snap a three-day fall. Several sectors are higher through the morning session, but the drag is coming from consumer ... (full story)