The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
US equities sag the 8th consecutive session due to trade concerns
Information is not investment advice
US equities went down, with Dow diving the eighth consecutive day. It’s because the industrial sector was again suppressed by worries of a trade conflict. Amazon as well as other US online retailers found themselves in the negative territory because the US Supreme Court officially recognized for state authorities the right to have online sales taxed.
Equities of large industrial enterprises as well as car makers were suppressed after German Daimler had the forecast for this year downgraded, while BMW told it was searching for strategic options due to the trade clashes between China and America.
The stocks of Caterpillar went down by about 2.52%, Boeing lost 1.5%. As for the Industrial index S&P, it went down by 1,19%.
The cost of Ford securities went down by 1.35%, General Motors headed south by 1.98%, while Tesla declined by 4.06%. As for the share index of auto as well as spare parts makers, they edged down by 1.79%.
Amazon stocks tumbled by 1.9% after the court ruling. After this they managed to regain a part of their losses, ending the trading session with a 1.1% dive. The stocks of Wayfair went down by 1.6%, Overstock.com lost 7.2%, Etsy sagged by 1.4%, while Ebay inched down by 3.2%.
Additionally, the Dow Jones concluded the trading session down by 0.8% hitting 24.461.7. The S&P 500 index edged down by 0.63% being worth 2.749.76. As for the Nasdaq Composite index, it dived by 0.88% coming up with 7.712.95.
The largest sector sag was demonstrated by the energy sector that went down by 1.93% in the face of decreasing crude prices in the run-up to the gathering of OPEC ministers, at which crude exporters are anticipated to make a decision to ramp up production.
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Canadian jobs data will be announced on Thursday at 15:30 MT time.