Overview
A more cautious tone is evident today in the markets, which seem to have run well ahead of macro developments and evidence that the new coronavirus is not yet contained. After a roughly 3.5% advance in the past three sessions, the MSCI Asia Pacific index pulled back with nearly all the markets in the region slipping. The Dow Jones Stoxx 600 may end its four-day advance as the materials, energy, and consumer discretionary sectors drag down the index (~-0.4%), which were not helped by the disappointing industrial production figures. US stocks are also