SINGAPORE (Reuters) – The dollar rose, oil fell and stock markets were poised to slip on Monday as rising U.S.-China tensions over the coronavirus – and growing unease at the gulf between asset prices and grim economic reality – turned investors cautious.
FILE PHOTO: A man wearing protective face mask, following an outbreak of the coronavirus disease (COVID-19), walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, March 10, 2020. REUTERS/Stoyan Nenov/File Photo
In thin trade, with China and Japan on holiday, U.S. stock futures fell 1.6%, U.S. crude tumbled over $1 a barrel, or 6%, and futures for Australia’s benchmark ASX 200 index pointed to a negative open.
The safe-haven U.S. dollar rallied to one-week highs against the risk sensitive Australian and New Zealand dollars.
The moves extended a dour start to the month that began on Friday with bleak U.S. data and the threat of fresh trade-war hostilities between the world’s two biggest economies.
U.S. Secretary of State Mike Pompeo added to the jitters with remarks on Sunday, when he said th