Market comment | Virus concerns ripple across markets

Summary

Risk-off mood spread in the markets amid rising global fears. Investors sought shelter in bond markets, dragging equity markets and commodities.

Key points

• Key points:
• The U.S. economy is losing some steam, whereas the EZ showed disappointing growth in 4Q19.
• Equity markets tumbled in Asia, while the declines were more contained in the U.S. and pronounced in Europe (VIX 18).
• FX markets showed minor changes but moved in a risk-off mood pattern.
• WHO declared coronavirus outbreak a global health emergency as infections soar.

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