Nowhere to hide as equity markets succumb to virus in historic selloff

Sam Kerr

February 28, 2020 01:30 pm

(200227) -- NEW YORK, Feb. 27, 2020 (Xinhua) -- An electronic screen shows the trading data at the New York Stock Exchange in New York, the United States, Feb. 27, 2020. U.S. stocks closed sharply lower on Thursday as investors fled the stocks market and flocked into safe-haven assets. The Dow Jones Industrial Average fell 1,190.95 points, or 4.42 percent, to 25,766.64. The S&P 500 was down 137.63 points, or 4.42 percent, to 2,978.76. The Nasdaq Composite Index was down 414.29 points, or 4.61 percent, to 8,566.48. (Xinhua/Wang Ying) | Wang Ying/Xinhua News Agency/PA Images

Global equity markets are suffering from their most brutal week in a decade, as fears over the spread of the Covid-19 coronavirus infected financial markets. On Friday morning, both banks and investors were struggling to come to terms with the speed and severity of the global sell-off, and casting doubt on this year’s IPO calendar.

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Sam Kerr