In the U.S., Mastercard Inc. shares tumbled as much as 7% this week after the company cut its revenue forecast as the spreading virus curbs international travel, while Apple Inc. said demand for iPhones in China tumbled 28% in January on the previous month.
Just four borrowers have visited Europe’s debt market so far this week, including ING Groep NV with a downsized sale of Additional Tier 1 notes on Monday. New deal announcements have also dried up, with only one mandate from the region yesterday.
Any sign that the epidemic is stabilizing may prove a fillip for sales, according to Luke Hickmore, investment director at Aberdeen Standard Investments in Edinburgh.
“We have seen before that any stability in markets tends to attract new issuance,” he said.
--With assistance from Paul Cohen, Priscila Azevedo Rocha and Rebecca Choong Wilkins.
This article was provided by Bloomberg News.