U.S. equity futures and Asian stocks retreated with Treasury yields in early Wednesday trading as investors awaited details from the Trump administration on planned stimulus measures to counter the coronavirus impact.
S&P 500 futures fell as much as 3 percent, following a strong rebound on Wall Street after Monday’s plunge.
President Donald Trump didn’t appear at a briefing on the outbreak after promising a day earlier he would announce a “major” economic package, leaving investors waiting.
The yen advanced with Treasuries and gold, indicating a return of safe-haven appetite. Shares fell in Japan, Australia and South Korea, with more modest declines in Hong Kong and China. Oil edged higher, though trimmed earlier gains of as much as 5.8 percent.
Australian bonds gained after the central bank reiterated previous signals that any quantitative easing measures would focus on yield “objectives” rather than set levels of bond purchases.
Meanwhile Nigerian Stocks are set to open in 2 hours after yesterday’s brutal selloff in Bank stocks and other large cap names.
