March market update – coronavirus impact spreads across the world

Global equity markets experienced a sharp sell-off in March, as the coronavirus pandemic and fears over its economic impact spread across the world.

 

In this edition

• There were broad losses across regions and asset classes, with commodity markets notably weaker, as a Saudi-Russia price war sent oil prices to their lowest levels since 2002
• The traditionally more defensive asset classes, such as gold and core government bonds, outperformed as yields fell to historic lows
• In currency markets, the Japanese yen and US dollar were also notably strong over the month

 

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