· Stock futures fell in early morning trading on Wednesday as the markets remained highly volatile with the government response to the coronavirus fallout still unfolding.
As of around 1 a.m. ET, futures on the Dow Jones Industrial Average fell 821 points, indicating a more than 1,000-point loss at Wednesday’s open. S&P 500 and Nasdaq-100 futures were also down.
· U.S. stock futures and several Asian shares fell in choppy trade on Wednesday, as worries about the coronavirus pandemic eclipsed hopes broad policy support would combat the economic fallout of the outbreak.
Most traditional safe-haven assets were also under pressure as battered investors looked to unwind their damaged positions, leading to wide discrepancies between various markets.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3%, led by a 4.9% fall in Australia while Japan’s Nikkei gained 1.6%.
U.S. stock futures fell 3% in Asia, a day after the S&P 500 rose 6% and Dow Jones rose 5.2% or 1,049 points.
· Tokyo stocks gave up early gains and closed lower on Wednesday, dragged down by SoftBank Group and other heavyweights.
The Nikkei 225 fell 1.68 percent, or 284.98 points, to 16,726.55, though the broader Topix index closed up 0.19 percent, or 2.38 points, at 1,270.84.
"The Nikkei was dragged down by heavy-priced components such as Fast Retailing and SoftBank Group," said Makoto Sengoku, market analyst at Tokai Tokyo Research Institute.
SoftBank Group plunged 10.89 percent to 3,246 yen on uncertainty over the finances of WeWork after a report that the IT investor may cut back on its planned bailout of the US-based co-working facilities provider.
Clothing chain operator Fast Retailing dived 6.57 percent to 40,900 yen owing to Uniqlo store closures during the virus outbreak, Sengoku told AFP.
· European markets opened lower Wednesday, despite Western governments promising to unleash billions of dollars to help businesses and citizens get through the coronavirus pandemic.
The pan-European Stoxx 600 fell 2.7% at the start of trading, travel and leisure stocks dropping 4% to lead losses as all sectors and major bourses slid into negative territory.
Reference: Reuters, CNBC
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