The opening was extremely weak across the US and Europe, although there was some respite after Trump announced a $500 billion asset purchase plan. In early trades on 12th March, the Dow was down nearly 8% in mid day trades while the NASDAQ was down by nearly 7%. But the real carnage was visible in the UK, French and German markets where the indices were down by over 12% each. The early trends of the SGX Nifty are indicating a 7% fall to 8850 levels and that would imply a correction of nearly 27% in the Nifty in just about a month. The US Dow is already down over 30% in a span of just one month. With little respite from the Coronavirus, global markets appear to be firmly in bear territory. It is hard to say how much longer this will last but for now there is no recovery in sight.