The stock selloff deepened today in Asia as pandemic fears gripped markets across the region. Commodities remain depressed with the Australian dollar remaining well below the 66 cent mark vs USD while gold continued to recover from its previous profit taking slump.
The Shanghai Composite is again the only market to see green on the board, but just barely – closing only 0.1% higher at 2911 points as it remains below the 3000 point barrier. Meanwhile the Hang Seng Index is off by 0.05% to 26683 points after a tight session:
Japanese share markets are steeply selling off due to a big increase in Yen buying with the Nikkei 225 falling another 2% to 21948points. The USDJPY pair was unable to bounceback from its previously stable trading range, flopping below the 110 handle and almost making a new daily low and confirming the risk-off mood:
The ASX200 was the middle of the road market, losing 0.75% to close at 6657 points, still without any help from a depressed Australian dollar which continues to struggle at these epic lows, hovering above the 65 handle:
Eurostoxx and S&P futures have sold off sharply this afternoon, both down 2% or more with the four hourly chart of the S&P500 showing no support at all here at the lower trendline from the 2019 rally – looks like the terminus is indeed 3000:
The economic calendar has a big print tonight – 4Q GDP plus US durable good orders.