Virus worries back to the forefront, Chinese currencies shrug

Virus worries back to the forefront, Chinese currencies shrug

  • The US and renewed East Asian virus concerns are real and are moving securities and currency markets
  • (ATF) The unmitigated disaster that is the US Trump administration’s pathetically failing fight against the coronavirus weighed on US stocks overnight. 

Reports of new virus outbreaks from Japan to Hong Kong to Thailand in East Asia and the worsening situation in India, now number three in confirmed cases in the world verging on one million, saw major Asian markets swoon on Tuesday.

None of that will help Donald Trump’s faltering re-election efforts. So what does he do? What any Trump-type losing gambler does, double down on a losing bet.

Overnight, he trotted out his most trusted lieutenant, Secretary of State Mike Pompeo, to announce that the US now sides with any and all with South China Sea territorial claims against China.

The issue, right or wrong, will go nowhere … unless Trump wants it to, which, of course, cannot be ruled out. And since it can’t be ruled out, markets figured it in as another negative.