Nifty set to fall as Fed rate cut fails to ease virus fears [Reuters]
SINGAPORE EXCH UNSP/ADR (SPXCY)
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Source: Reuters
Nifty set to fall as Fed rate cut fails to ease virus fears BENGALURU (Reuters) - Indian shares were set to fall on Monday, in line with global markets as emergency rate cuts in the United States and New Zealand, and a host of measures worldwide failed to soothe investors panicked by the rapid spread of the coronavirus. The NSE stock futures listed on Singapore Exchange were down nearly 4% by 0241 GMT. The U.S. Federal Reserve slashed rates back to near zero, restarted bond buying and joined other central banks to ensure liquidity in dollar lending. U.S. stock futures plunged 4.8% to hit their downlimit before daybreak in Singapore. The dollar sank more than 2% against the yen. Australia’s benchmark stock index fell 7% in the first quarter-hour of trade, South Korea’s KOSPI was a shade weaker and MSCI’s index of Asia-Pacific shares outside Japan off 0.5% to a level not seen since early 2017. Grim data out of China also weighed on sentiment, with January-February industrial output plun
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