In Asian Equity Markets fell sharply on Thursday. In Japan, the Nikkei 225 declined 3.3%. South Korea’s Kospi also fell 3.04%. Meanwhile, shares in Australia dropped, with the S&P/ASX 200 down 5.51%. Hong Kong’s Hang Seng index also fell 3.81%. Mainland Chinese stocks were lower by the afternoon, with the Shanghai composite declining 1.34% and the Shenzhen component down around 1.95%. The Shenzhen composite shed 1.757%.

In Currency Markets the U.S. dollar careened against the euro and yen on Thursday after U.S. President Donald Trump rattled markets with a month-long ban on European travel to the United States. The dollar fell 1% to 103.32 yen and 0.5% to $1.1328 against the euro. The safe haven Swiss franc rose 0.6%. The Australian dollar fell 0.4% to $0.6580. Trump on Wednesday suspended all travel from Europe to the United States for 30 days starting on Friday in order to fight the coronavirus.

In Commodities Markets oil prices sank again on Thursday along with the broader market after the United States banned travel from Europe following a World Health Organization declaration that the coronavirus outbreak is now a pandemic. Market worries were compounded by the threat of a flood of cheap supply as Saudi Arabia promised to raise oil output to a record high in its standoff with Russia. Brent crude was trading down $1.91, or 5.3%, at $33.88, slightly above earlier lows. The contract fell nearly 4% on Thursday.

In US Equity Markets stocks fell on Wednesday, with the Dow confirming a bear market for the first time since the financial crisis after the World Health Organization called the coronavirus outbreak a pandemic. The S&P 500 lost 4.89%, to 2,741.38 and the Nasdaq Composite fell 4.7%, to 7,952.05. Boeing Co was the biggest drag on the blue-chip Dow, falling 18.2% after announcing plans for a full drawdown of an existing $13.8 billion loan as early as Friday. The planemaker suffered its biggest ever three-day fall, surpassing the aftermath of the Sept. 11, 2001 attacks.

In Bond Markets U.S. Treasury yields rose in choppy trading on Wednesday despite losses in stocks that deepened after the World Health Organization classified the coronavirus outbreak as a pandemic. The 10-year note yield was last at 0.814%, up from 0.752% at Tuesday’s close. The White House is examining tax relief measures, loan guarantees, reimbursing workers for lost pay, aid to small and midsize businesses, and support for airlines, hotels and other travel businesses, Treasury Secretary Steven Mnuchin told lawmakers on Wednesday.