Equity markets in survival mode as ‘insane’ volatility hits

Sam Kerr

March 12, 2020 11:45 am

(200310) -- NEW YORK, March 10, 2020 (Xinhua) -- A trader reacts at the New York Stock Exchange (NYSE) in New York, the United States, March 9, 2020. U.S. stocks plunged on Monday with the Dow closing down more than 2,000 points amid anxieties for a possible all-out oil price war and economic slowdown from the spreading coronavirus. The Dow Jones Industrial Average cratered 2,013.76 points, or 7.79 percent, to 23,851.02. The S&P 500 was down 225.81 points, or 7.60 percent, to 2,746.56. The Nasdaq Composite Index shed 624.94 points, or 7.29 percent, to 7,950.68. All three benchmarks notched their worst daily declines in years. (Xinhua/Wang Ying) | Wang Ying/Xinhua News Agency/PA Images

Global stock markets have succumbed to panic in a violent and historic sell-off that echoes the worst days of the 2008 financial crisis thanks to the spread of the Covid-19 coronavirus, and equity capital markets are shuttered in response. However, ECM bankers are focusing now on the "other side of the tunnel" and rights issues for cash-strapped clients.

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Topics

Coronavirus Equity IPOs Equity ABBs-Block Trades United States Americas Europe Follow-ons and Rights issues North America EMEA

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Sam Kerr