* Dollar slides vs yen, gains on commodity currencies * ASX 200 plunges almost 10%, Nikkei drops 2% * Asian stock markets: tmsnrt.rs/2zpUAr4 By Wayne Cole and Kane Wu SYDNEY/HONG KONG, March 16 (Reuters) – Stock markets were routed and the dollar stumbled on Monday after the Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to ease a ruinous logjam in global lending markets. European markets were also poised to open sharply lower, with EUROSTOXX 50 futures down 3.4% and FTSE futures down down 2.7%. E-mini futures for the S&P 500 index hit their downlimit in the first quarter-hour of Asian trade as investors rushed for safety. The Fed’s emergency 100 basis point cut on Sunday was followed on Monday by the Bank of Japan easing policy further with a pledge to ramp up purchases of exchange-traded funds and other risky assets. New Zealand’s central bank also shocked by cutting rates 75 basis points to 0.25%, while the Reserve Bank of Australia (RBA) pumped more money into a strained financial system. Japanese Prime Minister Shinzo Abe said G7 leaders would hold a teleconference at 1400 GMT to discuss the crisis. The… Read full this story
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