Stock markets collapse and Trump gives no indication

Shares, oil, Bitcoin and treasury bills plummeted after the World Health Organization declared that Coronavirus has gone "pandemic" worldwide.

After this decision, US President Donald Trump rushed to close all travel from Europe to the United States for 30 days starting next Friday in an attempt to contain the epidemic – which in some areas of the However, America is already present.

Donald Trump said he will commit to providing financial aid to his American citizens most affected by the crisis and promised massive liquidity for small businesses during the press conference that took place a little while ago. However, he offered few details about the aid, which increased skepticism even further.

Why is Wall Street worried?

"The biggest disappointment on Wall Street was the lack of specific guidelines to support people, small and medium-sized businesses," said Jasper Lawler, research manager at the London Capital Group.

"There was no sick leave, free tests and a solution for Americans who don't have health insurance," he added.

Other analysts have expressed similar concerns.

"Donald Trump's speech did not live up to investors' expectations," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank, in a note released the next morning.

Analysts were certainly expecting more as Coronavirus threatens to unleash "one of the biggest economic collapses we've experienced in the past few decades," he added.

Furthermore, a wave of public funding could do little to alleviate the crisis, said Ozkardeskaya.

"The proposed financial measures aim to stimulate activity at a time when companies are slowing down operations to prevent further infection," he said. "Massive rate cuts have the effect of a sword cutting water."

What's going on in the USA and the rest of the world

Coronavirus – which causes a disease called COVID-19 – has infected more than 126,000 people worldwide, with around 4,600 deaths in over 100 countries. Italy has blocked its entire population at home and the United States already has over 1,000 confirmed infections.

The pandemic prompted New York to postpone St. Patrick's Day celebrations for the first time since 1762 and the National Basketball Association to suspend the rest of this season's games.

"Can we panic now?" Michael Every, senior in the Asia-Pacific area of ​​RaboResearch asked in a morning note.

Here's what's going on around the world in these hours:

• European equities plummeted. The German DAX is down 6.7%, the UK FTSE is down 6% and the Euro Stoxx 50 is down 6.7%.
• Asian indices closed lower. Shanghai fell 1.5%, KOSPI fell 3.9%, the Nikkei index fell 4.4%, and Hong Kong's Hang Seng fell 3.7%.
• US equities are expected to open lower. Futures, the S&P 500 and the Nasdaq fell between 4.7% and 5%.
• Oil prices have fallen. West Texas Intermediate down 5.6% to $ 31.10 a barrel and Brent down 5.8% to $ 33.70.
• The 10-year yield on Treasury bills fell to around 0.72%.
• Bitcoin has collapsed to a quote of around $ 5600 at the time of writing.