* U.S. stock futures fall as much as 4.9%, Euro Stoxx 8.3% * MSCI ACWI stock index down 19% from peak, on cusp of bear market * Markets expect ECB to cut rates despite side-effects worries * Fed futures price in strong chance of 1% rate cut this month * Safe-haven assets soar, but off recent highs By Hideyuki Sano TOKYO, March 12 (Reuters) – Financial markets reeled on Thursday as stocks dived and oil slumped after U.S. President Donald Trump took the dramatic step of banning travel from Europe to stem the spread of coronavirus, threatening more disruptions to trade and the world economy. With the pandemic wreaking havoc on daily life of millions worldwide, investors were also disappointed by the lack of broad measures in Trump’s plan to fight the pathogen, prompting traders to bet of further aggressive easing by the Federal Reserve. Euro Stoxx 50 futures plunged 8.3% to their lowest levels since mid-2016. They were last down 6.9% while investors rushed to safe-haven assets from bonds to gold to the yen and the Swiss franc. U.S. S&P 500 futures plummeted as much as 4.9% in Asia and last traded down 3.6%, a day after the S&P… Read full this story
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