World markets started the week with fresh losses as countries reported surging numbers of infections from the coronavirus that are forcing shutdowns of travel and business in many regions.
Shares fell in London, Paris and Tokyo but surged 7 per cent in Australia after the government promised more recession-fighting stimulus. “We want to keep the engine of our economy running through this crisis,” Prime Minister Scott Morrison told reporters in Canberra.
His unprecedented $130 billion package includes wage subsidies of up to $1,500 per two weeks to businesses to keep workers on the job.
U.S. futures yoyo’d throughout Asia’s day but turned lower. The future for the S&P 500 fell 0.6 per cent while that for the Dow industrials lost 0.8 per