TOKYO (Reuters) – Asian shares fell on Friday following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown. FILE PHOTO: A visitor wearing protective face mask, following an outbreak of the coronavirus, walks past in front of a stock quotation board outside a brokerage in Tokyo, Japan March 2, 2020. REUTERS/Issei Kato MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.5%. Australian shares fell 1.86%, while Japan’s Nikkei stock index .N225 slid 1.45%. Yields on 10-year U.S. Treasuries fell to a record low as investors increased bets that the Federal Reserve will follow this week’s surprise 50 basis point rate cut with further easing to prevent corporate bond spreads from widening further. Tumbling yields hammered the dollar, which traded near a six-month low versus the yen and close to a two-year trough against the Swiss franc. Oil prices rose on hopes that output cuts would protect the market from an expected decline in global energy demand. The spread of a new coronavirus has accelerated so much in Europe, Britain and North America that investors who once played down the virus are now re-assessing… Read full this story
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