Coronavirus crash wipes $5 trillion off world stocks

first_imgA sign reading “Please avoid shaking hands due to the current situation” is seen placed at the entrance of Swiss stock exchange operator SIX Group in Zurich, Switzerland February 27, 2020. (REUTERS/Arnd Wiegmann)Bets are now that the Federal Reserve will cut US interest rates as soon as next month and other major central banks will follow to try and nurse economies through the troubles and stave off a global recession.“Investors are trying to price in the worst case scenario and the biggest risk is what happens now in the United States and other major countries outside of Asia,” said SEI Investments Head of Asian Equities John Lau.“These are highly uncertainty times, no one really knows the answer and the markets are really panicking.” Coronavirus panic sent world share markets crashing again on Friday, compounding their worst week since the 2008 global financial crisis and bringing the wipeout in value terms to US$5 trillion.The rout showed no signs of slowing as Europe’s main markets slumped 2-3 percent early on and the ongoing dive for safety sent yields on US government bonds, seen as probably the securest asset in the world, to fresh record lows.Hopes that the epidemic that started in China would be over in months, and that economic activity would quickly return to normal have been shattered this week as the number of international cases have spiraled. The index of Shanghai and Shenzhen shares dropped 2.9 percent, on track for its first weekly loss in three.Oil prices languished at their lowest in more than a year having plunged 12 percent this week – its worst since 2016 – while all the major industrial metals have dropped between 3 percent and 6 percent.The appeal of guaranteed income sent high-grade bonds. U.S. yields plunging with the benchmark 10-year notes yield hitting a record low of 1.241 percent. It last stood at 1.247 percent.That is well below the three-month bill yield of 1.436 percent, deepening the so-called inversion of the yield curve. Historically an inverted yield curve is one of the most reliable leading indicators of a US recession.Expectations the Fed will cut interest rates to cushion the blow are rising in money markets. Analysts say Fed funds futures are now pricing in about a 75 percent chance of a 25 basis point cut at the central bank’s March 17-18 meeting.Topics : Disruptions to international travel and supply chains, school closures and cancellations of major events have all blackened the outlook for a world economy that was already struggling with the US-China trade war falloutMSCI’s all country world index, which tracks almost 50 countries, was down over 1 percent once Europe opened and almost 10 percent for the week – the worst since October 2008.Wall Street shares had plunged 4.4 percent on Thursday alone which was its largest fall since August 2011. They have now lost 12 percent since hitting a record high just nine days ago, driving into so-called correction territory.The CBOE volatility index, often called the “fear index”, jumped to 39.16, its highest in about two years, well out of the 11-20 range of recent months.The index, which measures expected swings in US shares in the next 30 days, typically shoots up to around 50 when bear market selling hits its heaviest and approached almost 90 during the 2008/2009 financial crisis.Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., February 27, 2020. (REUTERS/Brendan McDermid)Pandemic warningIn Asia, MSCI’s regional index excluding Japan shed 2.7 percent. Japan’s Nikkei slumped 4.3 percent on rising fears the Olympics planned in July-August may be called off due to the coronavirus.“The coronavirus now looks like a pandemic. Markets can cope even if there is big risk as long as we can see the end of the tunnel,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.“But at the moment, no one can tell how long this will last and how severe it will get.”World Health Organization Director General Tedros Adhanom Ghebreyesus said the virus could become a pandemic as the outbreak spreads to major developed economies such as Germany and France.About 10 countries have reported their first virus cases over the past 24 hours, including Nigeria, the biggest economy in Africa.The global rout knocked mainland Chinese shares, which have been relatively well supported this month, as new coronavirus cases in the country fell and Beijing doled out measures to shore up economic growth.Read also: Global shares head for worst week since 2008 financial crisis Read also: Trading suspension looms as Indonesian stocks plunge another 4%last_img read more

Lack of sexual health information for men is the main problem -Professor Green

first_img Sharing is caring! Share 14 Views   no discussions Share Sharecenter_img Tweet LocalNews Lack of sexual health information for men is the main problem -Professor Green by: – October 21, 2011 Image via: menhealthtips.comThe lack of information for men about sexual health has been highlighted as one of the main problems affecting the male population.Dominican Professor, Laura Serrant-Green, made the remarks while delivering a Public Lecture on the topic “Men’s Sexual Health: an Essential Part of their Mental Health” at the UWI Open Campus last night.She says men are at a disadvantage in maintaining proper sexual health.“The essential elements of good sexual health are equitable relationships. It includes sexual fulfillment -in whatever way you want it to be-and it also includes access to information so that you can avoid the risk of unintended pregnancy, illness or disease. We all have a right under the world health organization to have access to equal information. Where is the information for men?” she questioned.According to her, there is no information for men.“If we were in a situation where we had laws and status and policies which said men’s health is as important as women’s health, if we had promotional advertisements on the television I would say that there are things in place but doctors are not giving the information. But they don’t exists,” she said.Professor Serrant-Green believes that women are given the priority over men and that must change. The lecture was the Dominica Nurses Association as a method of educating citizens of Dominica on their health. This is in keeping with its belief that the health of a nation is a major contribution to its social, economic and educational growth and development.Professor Serrant-Green who was this year’s feature speaker at the Dominica State College’s 9th Commencement Ceremony is one of only 10 black professors in the United Kingdom. She is a nurse by profession and is of Dominican parentage, her parents being from St. Joseph.Dominica Vibes Newslast_img read more

Graduation rates for athletes rise for seventh year

first_imgA recent report released by the NCAA showed that USC varsity athletes who enrolled from 2002-05 graduated at a rate of 79 percent — the seventh-straight year USC’s percentage has increased in this evaluation.The rate increased from 66 percent in 2007, to 68 in 2008, to 69 in 2009, to 74 in 2010, to 78 in 2011 and now to 79 in 2012, according to the university.The new figures, however, did not bear all good news for USC.According to the new numbers, the football program posted a 57 percent graduation rate over the time period — a four-point drop from last year’s figure. In the Pac-12, USC ranked ninth.For other sports, the picture was a little brighter. Five sports — men’s golf, women’s rowing, men’s tennis, women’s tennis and women’s volleyball — had a 100-percent graduation rate over the time period. Women’s lacrosse and sand volleyball were not evaluated since the NCAA looked at athletes who started college from 2002–05, according to the university.Notre Dame had the highest national graduation rate for freshmen entering the university from 2002 to 2005, with a rate of 97 percent. Rutgers was ranked second with a 91-percent rate and Stanford was ranked third with a 90-percent rate.last_img read more

Irish rugby team settle in Cape Town

first_imgAhead of their opening Test against the Springboks on Saturday, Joe Schmidt will name his starting team after the work-out.Former Ireland captain Keith Wood believes that South Africa are vulnerable this weekend…Wales have made five changes for Saturday’s opening rugby Test against New Zealand.  Sam Warburton has recovered from injury to captain the side in Auckland. Prop Gethin Jenkins, hooker Ken Owens and lock Bradley Davies also return, as well as centre Jonathan Davies. Uncapped flanker Ellis Jenkins is among the replacements.last_img read more

HURLING: DONEGAL MINORS PIPPED BY ARMAGH IN HARD-FOUGHT ENCOUNTER

first_imgDonegal finished their Ulster League campaign today with a disappointing defeat at home to Armagh, this was a game Donegal should have won. They began brightly with a goal from Tom Clare, Armagh replied with a goal from Sean Mc Cabe. Donegal were well on top but couldn’t score and had a number of bad wides, Kyle Mc Grath and Jamie de Ward got a point apiece, before Armagh’s sharp shooter Mc Cabe completed his hat trick with a brace of goals in a three minute spell before half time. Donegal completed the first half scoring with a point from Oisin Rooney. Half time score Armagh 3.0 Donegal 1.3.Donegal began the second half brightly and had 1.3 on the board before Armagh got their first score of the game. Donegal were 2 points ahead when disaster struck in the form of an Armagh goal followed quickly by a brace of points for the Orchard men. Donegal fought to the end and a goal at the death by Cathal Doherty gave them hope but unfortunately they ran out of time.Final score Armagh 4.6 Donegal 3.7Scorers Aaron Mc Cauley 1.1, Tom Clare 1.0, Cathal Doherty 1.0, Jamie de Ward 0.2, Oisin Rooney 0.2, Kyle Mc Grath 0.1 and Sam Doherty 0.1HURLING: DONEGAL MINORS PIPPED BY ARMAGH IN HARD-FOUGHT ENCOUNTER was last modified: April 5th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:armaghdonegalhurlersMinorlast_img read more