In European Equity Markets the pan-European Stoxx 600 reversed course to decline 0.8% below the flat-line, with basic resources falling 1.7% to lead losses as all sectors and major bourses traded in the red. Signify shares climbed 7.7% to lead the Stoxx 600 while SES stock jumped 5.8% on the back of rising fourth-quarter profit. Electrolux stock fell 2.5% after missing fourth-quarter earnings expectations and issuing a warning over potential costs arising from the coronavirus outbreak.

In Currency Markets the Australian dollar fell to a four-month low on Friday while China’s offshore yuan struggled to find a footing on concerns about the economic impact of a virus inside and outside China. China’s offshore yuan gave up earlier gains and was last down against the dollar. The Australian and New Zealand dollars, both sensitive to sentiment in China, fell to new multi-month lows. The New Zealand dollar fell 0.5% and touched a two-month low of $0.6454. The Australian dollar lost 0.5% to $0.6683, a four-month low.

In Commodities Markets oil prices fell on Friday and were on track for a fourth consecutive weekly loss, as markets grew more concerned about the economic damage of the new coronavirus that has spread from China to around 20 countries, killing more than 200 people. Brent crude was down 17 cents at $58.12 a barrel, and down 4.2% on the week. U.S. West Texas Intermediate (WTI) fell by 38 cents to $51.76 a barrel, and remained down 4.5% on the week. Both benchmarks rose by more than $1 earlier in the session.

In US Equity Markets the S&P 500 and the Dow Jones Industrial Average slid on Friday, hit by worries over the impact of the coronavirus epidemic on global growth, while strong earnings from Amazon.com checked losses on the Nasdaq. Shares of the online retailer jumped 9.2% after the company trumped Wall Street’s estimates for holiday-quarter results, putting it back in the $1 trillion market capitalization club. The S&P 500 fell 0.65% to 3,262.41 and the Nasdaq Composite declined 0.38% to 9,264.05.

In Bond Markets European sovereign borrowers’ January fundraising round saw unprecedented demand from bond investors who placed an average of over six euros in orders for each euro raised in debt. One landmark was Spain’s 10-year bond, which attracted the biggest order book ever for a euro zone bond sale. Another was Greece, which sold its first 15-year bond since the financial crisis and received the highest level of demand since it returned to capital markets in 2017.