In Asian Equity Markets shares in Hong Kong fell Wednesday morning as they returned from a holiday amid coronavirus fears. The Hang Seng index declined almost 3% in early trade, before last declining 2.49%. Hong Kong-listed shares of travel-related firms declined. China Eastern Airlines fell 5.54% and China Southern Airlines was down 5.36%. Markets in China remain closed on Wednesday for a holiday. Japan’s Nikkei 225 was up 0.54%. South Korea’s Kospi also added 0.63%. Stocks in Australia rose, with the S&P/ASX 200 up 0.64%.

In Currency Markets the U.S. dollar was unchanged against a basket of currencies on Wednesday as safe-haven demand ebbed along with worries about whether the spread of a flu-like coronavirus would hurt the global economy. The dollar index, which measures the greenback against six other major currencies, was flat at 97.534. Among the majors, Britain’s pound was the biggest mover, rising 0.65% against the dollar as investors debated whether the Bank of England would cut interest rates next week.

In Commodities Markets oil futures edged up on Tuesday after falling for five days, gaining support from a rebound in Wall Street stocks and talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand. Brent futures rose 19 cents, or 0.3%, to $59.51 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 34 cents, or 0.6%, to $53.48. On Monday, both oil benchmarks fell to their lowest since October. The contracts were on track for their biggest monthly declines since May.

In US Equity Markets the S&P 500 rose over 1% on Tuesday as a surge in Apple and other technology stocks helped the benchmark index recover from its worst selloff in about four months that was sparked by concerns over the coronavirus outbreak. The S&P 500 rose 1.11% at 3,279.53 and the Nasdaq Composite was up 1.40% at 9,267.69. Pfizer Inc fell 4.4% after the drugmaker reported a lower-than-expected quarterly profit and said it would no longer rely on share repurchases to help drive growth.

In Bond Markets benchmark 10-year Treasury yields bounced off three-month lows on Tuesday, after a key part of the yield curve briefly inverted for the first time since October, as risk appetite improved even while investors kept assessing the economic impact from a virus outbreak in China. The death toll from the virus topped 100 overnight and a number of governments and multinational companies are restricting travel to China. Benchmark 10-year note yields fell as low as 1.57% overnight, the lowest since Oct. 10, before jumping back to 1.65%.