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26.02 - markets countinue to drop

18.12.2019

 

If you were hoping that the situation in the world was going to repair itself overnight, then you are not alone. After yesterday’s selloff that we saw in the markets, a lot of people were hoping that the situation was going to improve. After all, after the drop that the markets took yesterday, richest people on Earth collectively lost a real fortune. But the charts didn’t stop there and the selloff of the riskier assets went well into today.

 

Asian markets and European indices were not excluded from the fall. After all, it is from these regions that we see the risks come out of. Asia was the place where coronavirus started and Europe is at high risk right now. People are already cancelling their trips to Italy and the Italians are starting to panic as the virus is spreading through the country. It is now clear that the fallout from the virus is going to be more serious than we have anticipated in the past.

 

With this in mind we have to look at American stock market. Yesterday Dow experienced the worst slide in 2 years. And it is said to see that it didn’t have the possibility to recover today. On the contrary – American stocks are sliding lower and slower, which means that we might just be in the beginning of a very serious hit. Just like with all of the countries it is going to take time to recover. Surely, the company that is going to be the first to deal with the production and delivery hell is going to recover and jump the most, so we need to look out for the news of this nature for the next couple of days.

 

Of course such chaos in the world markets means that safe havens are flourishing. USD and precious metals are right on the top. Oil is also growing as the Middle East is starting to be affected by the virus. And we all know – that means that oil output is in danger which, surely, brings it to growth.

 

Here are the numbers for the day ahead:

 

Topix decreased 0.7 percent.

Kospi dropped 1.1 percent.

Shanghai Composite declined 0.2 percent.

Hang Seng from Hong Kong dropped 0.7 percent.

S&P 500 futures recovered 0.4 percent.

Euro grew 0.2 percent - $1.0874.

Pound advanced 0.5 - $1.2992.

Yen advanced 0.4 percent – 110.36 per dollar.

Canadian dollar grew 0.1 percent - $1.3283.

Tesla decreased 4.1 percent - $799.91.

Apple dropped 3.4 percent - $288.08.

Facebook lost 2 percent – $196.77.

Amazon dropped 1.8 percent – $1972.74 per share.

Google declined 2.4 percent - $1386.32.

WTI grew 0.1 percent - $50.1 per barrel.

Brent increased by 0.1 percent - $55.03 per barrel.

Gold advanced 0.6 percent - $1645.03 per ounce.

Silver added 0.6 percent - $18.08 per ounce.

Platinum jumped 1.2 percent – $933.72.

Palladium advanced 0.8 percent - $2728.1 per ounce.