‘People Are Cashing Out’: China’s Yuan Slides Most Since August, Shares Dive As Markets Get Mystery Virus
Suddenly, the Chinese yuan looks vulnerable again.
The currency had steadily appreciated against the dollar since October, strengthening back through the psychologically-important 7.00 level on its way to 6.85, as the US and China finally inked Trump's "Phase One" trade deal and the Chinese economy appeared to stabilize.
On Tuesday, the yuan sank the most since late August as an outbreak of deadly viral pneumonia rippled across regional markets and undercut risk sentiment.
The last time the
China has the perfect urban environments to first indicate the problem of resistant strains of deadly bacteria. Even TB in resistant form is a tough row to how.
It’s an airborne virus, not a bacteria. Not even the same class of scary.
First US case confirmed in Washington… not good.
I don’t think the virulence of this outbreak is too relevant. If markets are ready to correct, they need an trigger; if they aren’t, triggers don’t matter.