EU watchdog says markets must stay open for investors

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© Reuters. A general view shows the German share prize index DAX board during afternoon trading as markets react on the coronavirus disease (COVID-19) at the stock exchange in Frankfurt© Reuters. A general view shows the German share prize index DAX board during afternoon trading as markets react on the coronavirus disease (COVID-19) at the stock exchange in Frankfurt

LONDON (Reuters) – Keeping financial markets open is vital for the economy to function properly during the coronavirus epidemic, Steven Maijoor, chair of the European Union’s markets watchdog, said on Monday.

“Open markets allow the process of adjusting of prices to new information to continue, and they provide liquidity to the benefit of investors by allowing them to rebalance portfolios and meet contractual obligations,” said Maijoor, who heads the European Securities and Markets Authority (ESMA).

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