Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
Stock market is bleeding: what do you need to know
Information is not investment advice
The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. The S&P 500 index was down by 148.25 points and closed below the 200-day SMA. Nasdaq fell by 461.25 points, demonstrating the biggest slump in more than 8 years. As for the European stock market, the DAX30 index has opened with a gap down on Friday, testing the lows around the $11,800 level.
Why did that happen?
It’s obvious that the number of negative headlines on the coronavirus outbreak made investors panicking and caused pressure to the markets. In particular, the head of the World Health Organization suggested a possibility of an outbreak turning into a pandemic. The fact that California health officials reported they were monitoring 8,400 people for coronavirus was also worrying for the markets.
We expect more news and more downside pressure for the markets. At the moment, investors find the safe-haven Japanese yen attractive. At the same time, do not write the gold off your trading plans. The price for the precious metal is correcting to the downside now, but have all the chances to spike back due to the fundamental reasons. Stay safe and follow the news with us.
UK Prime Minister was placed in the intensive care. As a result, the British pound plummeted dramatically today.
Coronavirus pushes to recession countries one by one. This time it gets to Japan, known as one of the world’s hardest working nation.
Canadian jobs data will be announced on Thursday at 15:30 MT time.