Asian shares battle despite Fed cut
US Federal Reserve rate cut stokes rather than soothes fears over the coronavirus outbreak
04 March 2020 - 08:28
Singapore — Asian shares struggled to find footing on Wednesday and bonds held stunning gains, as an emergency rate cut from the US Federal Reserve seemed to stoke rather than soothe fears over the coronavirus’ widening global economic fallout.
The surprise 50 basis point cut came with commentary highlighting the limits of monetary policy, and Wall Street indices fell sharply. Gold surged and the dollar sank...
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