Pakistan, March 13 -- Half a trillion dollars in liquidity from the U.S. Federal Reserve and the promise of more were not enough to calm the fear that has wiped some $14 trillion from world stocks in a month.

Losses were equally staggering outside Japan, driving MSCI's broad Asia-Pacific index . Gold and oil fell and once-safe sovereign bonds slumped as investors liquidated everything they could to cover losses.

Currency dealers walk past an electronic board showing the Korea Composite Stock Price Index (KOSPI) at a dealing room of a bank in Seoul, South Korea, March 13, 2020.

Half a trillion dollars in liquidity from the U.S. Federal Reserve and the promise of more were not enough to calm the fear that has wiped some $14 trillion from...