Asian shares skidded on Tuesday on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.
As countries around the world gradually ease restrictions in an effort to restart their economies, investors are becoming anxious about a second wave of infections.
“The re-opening of the global economy will likely follow the shape of activity in China. Businesses there have restarted operations but are not necessarily at capacity,” Bob Baur, Chief Global Economist at Principal Global Investors. Late on Monday, the Fed said it would start purchasing shares of exchange-traded funds that invest in bonds, one of several tools to improve market functioning in the wake of the coronavirus pandemic.
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