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 More money, more easing, but no pleasing markets
Japan and New Zealand followed the Fed with sweeping emergency cuts
in interest rates and offers of cheap dollars. But the measures did
little to calm equity markets, which fell sharply.
"Market reactions to each surprise monetary policy easing have been
sell first and ask questions later," said Selena Ling, head of
treasury research and strategy at OCBC Bank in Singapore.
EU finance ministers will hold a video call on Monday, to discuss
measures to shore up their economies, while G7 world leaders will
hold a teleconference at 1400 GMT..
Germany tries to persuade vaccine company to stay
Berlin is trying to stop Washington from persuading German company
CureVac from moving its research to the United States, a report by
German newspaper Welt am Sonntag, which was confirmed by the
country's health ministry, said.
The privately held company based in Tuebingen, Germany, is working
on an experimental vaccine for the coronavirus and hopes to have it
ready by June or July, after which it will seek regulatory approval
for human testing.
The spread
At least 6,509 people have now died from coronavirus and 169,444
have been infected globally, according to a Reuters tally. There are
now more cases outside mainland China than within it.
Mainland China reported an overall drop in new coronavirus
infections on Sunday, with 16 new confirmed cases, down from 20 a
day earlier. The only locally transmitted new infections were in
Wuhan, the epicenter of the outbreak.
Italy, Iran, South Korea and Spain recorded the highest numbers of
deaths over the last day.
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(Open https://tmsnrt.rs/3aIRuz7 in an external browser, to see an interactive
graphic of the coronavirus spread)
Social distancing
Switching off some gambling machines, dedicating certain shopping hours for the
elderly and restricting the number of people allowed in lifts, are some of the
measures being adopted by casinos and supermarkets in Australia, and by Chinese
companies.
Apple Inc reopened its 42 stores in mainland China while closing others
elsewhere in the world, but required customers to wear masks and be subject to
temperatures checks upon entry.
Locked down, but not out
Italians took to the balconies of their apartments over the weekend to conduct
mass singalongs of "Azzurro", a song by Adriano Celentano, one of Italy's most
popular singers, and to applaud the doctors and nurses at the front line of the
crisis.
Fueled by social media, handpainted banners proclaiming "Andra tutto bene"
("Everything will be alright") and "io resto a casa" ("I'm staying at home")
were draped from windows and balconies in several cities.
As the death toll has risen to the highest in the world outside China, there has
been widespread acceptance of the unprecedented series of government controls on
public gatherings and travel.
(Compiled by Karishma Singh)
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