Stocks plunge, dollar slides as Fed's emergency cut spooks investors

News Image

MG News | March 16, 2020 at 01:40 PM GMT+05:00

0:00

March 16, 2020: Asian stock markets and the dollar were roiled on Monday (March 16) after the U.S. Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to break a logjam in global lending markets.

The Fed's rate cut combined with the promise of more bond buying pushed U.S. 10-year Treasury yields down sharply to 0.66% , from 0.95% late on Friday (March 13).

Japan's benchmark Nikkei 225 opened up 0.89 percent at 17,586.08, while the broader Topix gained 0.53 percent at 1,268.39 points.

Hong Kong stock market opened low with the benchmark Hang Seng Index down 2.98 percent at 23317.81 points.

In South Korea, shares fluctuated with the Korea Composite Stock Price Index (KOSPI) opened up at 20.65 points at 1.17 percent, but was down 3.47 points at 0.20 percent by 0008GMT.

Reuters

Related News

Name Price/Vol %Chg/NChg
KSE100 137,324.65
41.35M
0.69%
944.68
ALLSHR 85,057.04
66.04M
0.48%
408.68
KSE30 41,863.91
7.49M
0.76%
317.68
KMI30 193,133.42
7.22M
0.74%
1413.66
KMIALLSHR 56,066.82
46.79M
0.43%
239.08
BKTi 37,923.49
0.38M
0.25%
95.88
OGTi 27,679.55
0.30M
0.03%
8.87
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,650.00 119,915.00
118,035.00
-980.00
-0.82%
BRENT CRUDE 68.79 69.01
68.74
0.27
0.39%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
1.80
1.90%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-1.05
-0.99%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.74 66.99
66.58
0.36
0.54%
SUGAR #11 WORLD 16.55 16.67
16.40
-0.01
-0.06%

Chart of the Day


Latest News
July 17, 2025 at 09:27 AM GMT+05:00

NBP issues foreign exchange rates


July 17, 2025 at 09:25 AM GMT+05:00

Asia markets subdued amid global uncertainty


July 17, 2025 at 09:10 AM GMT+05:00

Pakistan, El Salvador partner on bitcoin, digital asset


July 17, 2025 at 06:31 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 16, 2025 at 11:00 PM GMT+05:00

SBP raises Rs342bn in PIB Auction



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg