U.S. stock futures and several Asian shares fell in choppy trade on Wednesday, a...
TOKYO - U.S. stock futures and several Asian shares fell in choppy trade on Wednesday, as worries about the coronavirus pandemic eclipsed hopes broad policy support would combat the economic fallout of the outbreak.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3%, led by a 4.9% fall in Australia while Japan’s Nikkei gained 1.6%. The increase in the S&P 500 futures the previous day, still down more than 10% so far this week, came as policymakers cobbled together packages to counter the impact of the virus.
Still, forecasters at banks are projecting a steep economic contraction in at least the second quarter as governments take draconian measures to combat the virus, shutting restaurants, closing schools and calling on people to stay home.
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