Stocks in Asia retreated with U.S. equity futures and crude oil slumped after the top American infectious disease expert said deaths from the coronavirus in the world’s largest economy may reach 200,000. Treasuries nudged higer.
Japan’s Topix index dropped about 3% with a majority of the gauge’s companies trading without the right to the latest dividend. Korean stocks fell, while Australian ones took back a slice of a Friday tumble. Crude dropped below $20 a barrel in New York at one point. Singapore’s dollar reversed losses after the monetary authority reduced the slope of its currency band, while affirming the current level.
The Aussie was lower after the country limited public gatherings to just two people. Meantime, South Africa’s rand tumbled to the lowest on record after Moody’s Investors Service downgraded the country’s debt to junk.
