Equities see a slump with fears of Coronavirus

The equities of United States have seen a slump as the concern about the coronavirus’ economic impact had overshadowed the data which showed that the jobs market in America was strong. The stocks this week had gotten off to a good start as the investors were betting that the economic damage from the virus is going to be contained. However, with the fresher reports of the infections and more quarantines and deaths, the fallout has been starting to be a point of focus as the corporations like Honda Motor Co. and Toyota Motor Co. halt the operations in China temporarily.

The experts feel that the upward movement in the market with the coronavirus risk still being there is risky as there is a lot of uncertainty which still exists in the world.

The dollar of Australia had dropped to a level which was lowest in the decade after the coronavirus started hurting its riskier assets.

Both presidents from United States as well as China had on Friday made a reaffirmation of the commitment for the implementing of the phase-one deal of trade.

The S&P 500 saw a decrease of 0.4% early in the morning as the European stocks had seen a decline too. The index of Asia Pacific had fallen by 0.6%.

Read Also:  Global Cannabis Extraction Market Is Likely To Grow At A CAGR Value Of Around 15.27% By 2028

The 10-year Treasuries had seen a fall of four basis points by a level of 1.6%. The Britain’s 10-year yield too had fallen by 1 basis point to a level of 0.57%. The 10-year yield had also dipped by 2 basis points in Germany.

The WTI crude had also fallen by 1.1% to a level of $50.39 per a barrel.

The fears are expected to increase with Coronavirus.

Leave a Reply

Your email address will not be published. Required fields are marked *