An historic shift into reverse gear for the Chinese economy could be one of the next consequences flowing from the spread of the novel coronavirus. That prospect threw Asian stock markets into reverse on Monday, despite economic stimulus measures in the U.S.The U.S. Federal Reserve, on Sunday (Monday morning in Asia) announced a full percentage point cut in its benchmark interest rate, reducing it to close to zero. The Fed also promised to inject liquidity into the economic system by buying at least $500 billion of Treasury securities and at least $200 billion of mortgage-backed securities. The Hong Kong Monetary …read more
Source:: Yahoo Finance
