A spokeswoman for the Chinese Foreign Ministry:
- China has confidence and capability to win the war against the coronavirus
- Will continue to work with the who and other countries to maintain global and regional public health security
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PBOC sets USD/ CNY reference rate for today at 6.8088 (vs. estimate at 6.7929)
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Equites getting hit. South Korea Kospi dumped 6%. Japan's Nikkei down more than 2.5% Equity index futures in the US and Europe lower
Meta's cloud pivot sinks AI chip stocks MU & SNDK 10%+. Nasdaq slides.
JPMorgan warns a growing split between AI hardware stocks and heavy AI capex spenders echoes market dynamics from 1999, just before the dot-com crash.
PBOC is expected to set the USD/CNY reference rate at 6.7929 – Reuters estimate
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