Friday 28th February 2020
Thursday proved to be a very volatile day towards the end of a very volatile week, that’s seem stock markets firmly in correction territory. Phil Dobbie talks to NAB’s David de Garis about a session that has seen sharp falls in US shares, followed by an attempted recovery, only to start slipping again. Governments and central bankers are talking about a response, but it seems unlikely a monetary response will do anything to calm markets. Economic data is coming thick and fast at the moment but, as it largely predates the virus, markets are largely ignoring it. Just about the only non-virus reaction seems to be a fall in the pound as Boris Johnson announced he would walk away from Brexit talks in June if he didn’t get his Canada style deal, but since then the pound has recovered as traders started to remember that they’d heard all this talk before.