Asian shares slump after Trump announcement on Covid-19 plans

[SunSeeker]

This discussion thread was locked as off-topic by NancyBlueINOklahoma (a host of the Democratic Primaries forum).

HONG KONG (AP): Shares fell in Asia on Thursday (Feb 27) after President Donald Trump announced the US was stepping up its efforts to combat the virus outbreak that began in China, as the number of cases surpassed 81,000.

Japan's Nikkei 225 index lost 2.1% to 21,948.23, while in Australia, the S&P ASX/200 dropped 0.8% to 6,657.90. Hong Kong's Hang Seng lost 0.8% to 26,491.52.

In South Korea, where 334 new cases of the virus were reported, the Kospi dropped 1% to 2,056.76. The central bank downgraded its growth estimate for 2020 to 2.1% from 2.3% and said the virus outbreak would have a short-term impact on business activity, after growth fell to its slowest in a decade last year.Previous crisis playbooks have all revolved around buying the dip in equities, so I wonder just how much further the fire sale will go before the market at least starts to scale in again," Stephen Innes of AxiCorp. said in a report.

"But based on last night's price action, it does appear that any bounce in stocks is likely to be short-lived. And eventually, the markets could fall deeper as investors start to think what's the point of trying to pick the bottom in the short term."

https://www.thestar.com.my/news/regional/2020/02/27/asian-shares-slump-after-trump-announcement-on-covid-19-plans#cxrecs_s

[duforsure]

1. Trump's lying

He's lost on this , and again after he talks people are even more worried because they know he's lying, again. This is what happens when you have a serial liar in an emergency, you can't trust anything he says to be true. He knows he's screwed up with all his cuts to heath issues and safety, and he's desperately trying to con people into believing he has things under control, when he has no clue.

[Cha]

2. KR

[OKNancy]

3. Oops - sorry Locking

I think you meant to post this in General Discussion. Please repost there