Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Here are 3 assets investors are buying as the stock market sells off on coronavirus fears (SPX)

Published by Business Insider on Tue, 28 Jan 2020


The stock market is selling off amid coronavirus fearsbut these assets are shooting up.On Monday, gold traded at levels not seen since April 2013, while the yen appreciated against major currencies.Visit Business Insider's homepage for more stories.Investors are rushing to assets that can promise safety amid the market turmoil set off by coronavirus headlines.While that means a selloff in stocks, it means a buying spree in assets like gold, the Japanese yen, and US Treasuries.Gold traded at its highest levels since April 2013, according to Bloomberg data, while the yen appreciated against major currencies including the dollar, euro, and pound. It was the Australian dollar that lost out the most, with the currency falling 1.26% against the yen.The yen is widely seen as a safe-haven currency, and typically gains when risk-off sentiment takes hold of the market; Australia, meanwhile, is particularly vulnerable to the economic fallout that could accompany coronavirus. China is the country's No. 1 trading partner.Elsewhere in safe-haven assets, US 10-year Treasuries rose. Yields tightened to 1.603%, the lowest levels seen since October.The hit to yields was predictable: Praveen Korapaty, a Goldman Sachs analyst, said in a Friday note that coronavirus could "drag on yields," but added that the dip would be eventually followed by a "sharp bounce back." How long the drag will last is hard to gauge, however, he said.Coronavirus rocked risk assets Monday as investors searched for answers to what coronavirus' impact will be on Chinese, and global, growth. The S&P 500 index fell 1.48% and Brent crude oil declined 2.50% to trade at $59.17 a barrel.Some analysts see the risk asset reaction as overblownin a Monday note, RBC Capital Markets' Tom Porcelli said he was "unconvinced by what is now a heightened level of hyperbole with regards to this risk."Join the conversation about this storyNOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Nigerian Tenders  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs