Here’s what you need to know:
- Asian markets stabilize after Wall Street’s dismal day.
- Philippines becomes the first financial market to close.
- Big banks plan to borrow funds from the Fed.
- Amazon will hire more workers and raise pay as delivery orders surge.
- S&P 500 has its worst day since the outbreak began.
Asian markets stabilize after Wall Street’s dismal day.
Markets in the Asia-Pacific region were mixed midday on Tuesday as investors tried to grapple with a disastrous Monday on Wall Street.
Japan’s Nikkei 225 index was down about half a percent midday. In mainland China, the Shanghai Composite Index was down 0.3 percent.
By contrast, Hong Kong shares were up 0.6 percent.
The region’s biggest loser was South Korean stocks. The Kospi index there fell 2.1 percent. The biggest gainers were in Australia, where the S&P/ASX 200 index was up 3.2 percent.
Futures markets signaled a positive opening on Wall Street, though they also were predicting more losses in European trading.
memorandum on its website, it said trading would stop until further notice.
Even in a time of ailing financial markets, the country’s stock performance stands out. Its main index has plunged by nearly one-third from its January high, making it one of the worst performers in the Asia-Pacific region.
The closures came hours after President Rodrigo Duterte put big chunks of the country’s population under quarantine to stop the coronavirus outbreak. The country lists 142 confirmed infections and 12 deaths so far.
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