“Volatility was supposed to start to calm down as central banks unleash a wrath of liquidity programs and stimulus, but coronavirus updates in Europe and the U.S. continue to suggest we are nowhere near being out of the woods or even close enough to guess on when that could potentially be,” Moya said.
A Glimpse of Hope
That said, stock benchmarks for markets including South Korea, Hong Kong, Japan and Taiwan are trading above their recent troughs, while U.S. futures pared losses after hitting limit-down. That may be a sign that investment sentiment isn’t that bad, said Alex Wong, director of asset management at Ample Capital Ltd.
“I think the market is expecting the bill to be passed eventually,” Wong said. “It may be a matter of when rather than a matter of if.”
--With assistance from Ishika Mookerjee.
This article was provided by Bloomberg News.