Market comment | Renewed coronavirus fears weigh on financial markets

Summary

Markets were cautious as fears over coronavirus returned, and investors awaited or Fed Chairman’s semi-annual monetary policy testimony.The death toll has overtaken that declared during the outbreak of the SARS virus, while some Chinese companies re-opened today.

Key points

• Key points:
• European and Asian stocks generally fell (apart from the CSI 300), while US equities grew modestly.
• Sovereign bond yields dropped across the board.
• Safe-haven currencies (JPY and CHF) recovered some ground, while the Euro depreciated amid Germany’s political uncertainty.

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