Global stocks crash as pandemic panic sweeps markets

Global stocks crash as pandemic panic sweeps markets

Global stock markets crashed on Friday, ending a years-long bull run, with coronavirus panic selling hitting almost every asset class and leaving investors nowhere to hide.. On Friday, Japanese stocks were in freefall and markets from Seoul to Jakarta punched through downlimit circuit breakers.. The Nikkei dropped as far as 10 per cent and is heading for its worst week since the 2008 financial crisis.. Not one stock on the index is in positive territory.. Gold and oil fell and once-safe sovereign bonds slumped as investors liquidated everything they could to cover losses.. Even after its worst crash since Black Monday in 1987 overnight, Dow futures are down about 3% in Asia, as are S&P 500 futures.. Australia's benchmark fell as far as 8% and is set for its worst week on record.. In currency markets the dollar was king and Asian currencies haemorrhaged as fears of systemic risks drove demand for the world's reserve currency.. Emerging market currencies were punished: the won and baht dropped 1% and the rupiah 2%.. President Donald Trump spooked investors with a move to restrict travel from Europe, and after the European Central Bank disappointed markets by holding back on rate cuts.. Trade was