The Shanghai benchmark index dropped nearly 9% when markets resumed trading after a week-long Lunar New Year holiday that was extended by three days.
Stock markets turned lower again yesterday after world health authorities declared the virus pandemic that has spread from China to more than a dozen countries a global emergency.
The total number of virus deaths in China reached 425 as of yesterday, from 20,438 cases.
A preliminary trade deal signed by the U.S. and China early last month eased a big source of uncertainty in the markets. Energy SPNY was by far the worst performer, tumbling 3.18 percent. The lion's share of that money went to cover maturities falling due. Futures for Japan's Nikkei were slightly higher but still about 500 points below where the index closed on Friday. The Shanghai Composite jumped 1.3% to 2,783.45. In South Korea, the Kospi was flat, at 2,118.88.
"There is more potential for markets to get affected by the coronavirus than SARS in 2003", said Seema Shah, chief strategist at Principal Global Investors. The S&P 500 index fell 0.5 per cent to 3,266 and could be headed for its first two-week losing streak since early October. The S&P 500 gained 0.7%, while the Nasdaq Composite climbed 1.3%. "What this does is perhaps slows that down and adds more uncertainties".
Some major companies have closed factories in central China, airlines have cancelled hundreds of flights and economists are cutting growth forecasts for the world's second-largest economy. "We should try and resist our inclination to buy the dip".
Feb 3 (Reuters) - Wall Street main indexes rose 1% on Monday following their worst week in at least four months as Amazon and Nike gained and US factory activity showed a surprise rebound.
"We expect a tough talk in the opening rounds of the Brexit talks", Mr. Rochester said. She imagined them saying: "Are you kidding me?" "But we think this corrective period has a bit more to go".
Bond prices fell sharply, sending yields higher.
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The former first lady went on to say that this kind of animosity between Democrat candidates can not happen again in 2020. While the event's moderator began to mention one of Clinton's recent attacks on Sanders, the audience started booing.
Britain's 10-year yield advanced one basis point to 0.529 per cent.
The yield on 10-year Treasuries gained three basis points to 1.54 per cent. "We're not ready to call the all-clear until we see a sustained re-acceleration not only in earnings estimates but also in the economic data".
The US stock market, which had been calmly setting record after record, suffered its worst January since 2016 and its first monthly loss since August past year. But almost a quarter of the gain for the S&P 500 came from just two stocks: Microsoft and Google's parent company, Alphabet.
Microsoft rose 1.6 per cent and Intel gained 1.4 per cent as technology stocks rose broadly.
Earnings were also well and truly still in focus on Monday, with Alphabet set to report after the close. The report came a day after the People's Bank of China unveiled liquidity injection measures to the tune of more than 1 trillion yuan.
West Texas Intermediate crude fell one per cent to US$51.07 a barrel. It had been above $63 toward the start of the year, before the virus worries exploded. Brent crude, the global standard, added 45 cents to $54.90 per barrel.
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In currency trading, the dollar rose to 108.52 Japanese yen from 108.35 yen on Friday.
The euro declined 0.4 per cent to $1.1054.