Chinese Markets Catch Cold-Down Nearly 8%
In the largest selloff since 2015, Chinese Equity Markets are Down 8% as of 2:42AM EST.
China’s market open was everything investors feared and more. A gauge of the nation’s stocks plunged almost 8%, commodity futures from iron ore to crude sank by the daily limit, and the yuan weakened past a key level against the dollar.
China's Central Bank, the People's Bank of China, PBOC, to inject $174 Billion to support Capital Markets, formerly $21 Billion.
What about our T-Bills and T-Bonds? HYPERINFLATION?
China is facing mounting isolation as other countries introduce travel curbs, airlines suspend flights and governments evacuate their citizens, risking worsening a slowdown in the world's second-largest economy.
State news agency Xinhua said on Sunday that China's economy was resilient enough to counter the shock caused by the virus, and said remarks made by a U.S. federal official - whom it did not name - that the virus could bring jobs back to the United States were "self-centered, unprofessional and unethical".
"An outbreak of a disease like this could not be the basis for multinational companies to make serious and long-term investment decisions in China...If the Chinese economy slows drastically, the U.S. economy will also suffer."