Stocks in China Slide; U.S. Equity Futures Advance: Markets Wrap – Yahoo Finance, Yahoo.com

Monday’s moves come on the back of turmoil last week that sent global equities to the worst week since August, amid concern growth will falter as the virus spreads. The People’s Bank of China cut rates as it injected cash into the financial system on Monday, part of a slew of measures to shore up their financial markets. “It’s not time to go back in and buy yet,” Andrew Harmstone, portfolio manager at Morgan Stanley Investment Management, told Bloomberg TV in Singapore. “We have to see more panic selling peak or some resolution of the virus” spreading, he said.

Elsewhere, the pound dipped as investors reacted to a report that UK Prime Minister Boris Johnson could walk away from talks over Britain’s future trade relationship with the European Union. Indian bonds surged after the government refrained from announcing higher debt sales in Saturday’s budget.

Here are some key events coming up:

first contest to choose a Democratic nominee to run against Donald Trump in November is the Iowa caucuses Monday.The US manufacturing gauge from the Institute for Supply Management is due Monday. There are also a slew of other PMIs, including India and Brazil.Tuesday brings a policy decision from the Reserve Bank of Australia. employment report for January.