Asian stocks fall in volatile session after historic Wall St plunge – ZAWYA

Asian stocks fall in volatile session after historic Wall St plunge – ZAWYA

TOKYO: Asian shares fell on Tuesday in a topsy-turvy session following one of Wall Street's biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.. Financial markets cratered on Monday with the S&P 500 tumbling 12%, its biggest drop since "Black Monday" three decades ago, as a series of emergency central bank rate cuts globally only added to the recent sense of investor panic.. Oil futures rebounded in Asia, but downside risks remain due to an expected slump in global energy demand and Saudi Arabia's plans to increase crude output to expand its market share.. Traders are looking ahead to data due later on Tuesday, which is forecast to show German investor sentiment tumbled in March.. Some investors say markets will not settle unless the U.S. government announces a big fiscal spending package to match the Fed's bold actions to slash rates and keep credit markets functioning.. The dollar rose 0.7% to at 106.67 yen JPY=EBS , recovering slightly from a 2% decline from the previous session as the Fed's rate rippled through financial markets..