By Shreyashi Sanyal
By Shreyashi Sanyal
March 12 (Reuters) – Most Latin American currencies touched historic lows on Thursday and regional shares nosedived after Washington’s surprising curb on journey from Europe heightened fears that the coronavirus pandemic would slam world development.
U.S. President Donald Trump on Thursday introduced the sweeping restrictions and financial steps to counter the pandemic’s impression, however the scant particulars upset traders. MKTS/GLOB
“As a substitute of offering urgently required reassurance to already terrified markets that his administration is able to coping with the coronavirus, President Trump gave a speech that reignited promoting stress throughout world shares,” stated Piotr Matys, senior rising markets FX strategist at Rabobank.
MSCI’s index for Latin American equities .MILA00000PUS tumbled 13.3%, whereas its index for currencies .MILA00000CUS shed 2.4%.
Investors scrambled for the dollar as swap spreads on…