Market Overview - Page 394

Coronavirus has been with us for longer than you think. According to documents seen by the South China Morning Post (SCMP), the Chinese government first detected a case of COVID-19 on Nov. 17. Yet it still hasn’t been able to.

The president of the European Commission on Monday proposed a ban on nonessential incoming, foreign travel for a month, the latest drastic measure to cut off the flow of people as the coronavirus spreads around the world. It would cover.

Market overview Friday’s bounce gave way to a collapse comparable to what we saw on Thursday. At the time of writing, the Dow Jones is losing 12% – the worst intraday drop since 1987. The FTSE100 has fallen to 4840.

Russia’s central bank is expected to keep its key interest rate unchanged on Friday, putting its monetary easing cycle on hold after a rapid slump in the rouble amid mounting economic risks, a Reuters poll showed on Monday. The Bank.

The stock market will plunge deeper into bear market territory on Monday. Dow Jones Industrial Average (DJIA) futures fell 5% overnight, triggering circuit breakers to halt trading. The drop comes as New York prepares to shut down schools, bars, and.

One bitcoin trader lost 1,220 BTC on March 12, when the price of the dominant cryptocurrency fell by 50 percent in a single day. As the downtrend of the crypto market worsens, large-scale multi-million dollar liquidations can happen again. Last.

European markets plunged on Monday as much of the region went into shutdown mode to prevent the spread of the new coronavirus. The pan-European Stoxx 600 dropped 8% near the start of trading, travel and leisure stocks plummeting 14.3% to.

Oil prices slid more than 6% on Monday as the acceleration in coronavirus cases worldwide, which is bringing travel and business to a standstill, further dents global demand for crude. U.S. West Texas Intermediate crude dropped 6.4%,or $2.05, to trade.

The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to essentially zero on Sunday and launched a massive $700 billion quantitative easing program to shelter.

The Fed emergently cut the rate by 75 points to 0.00%-0.25% on Sunday night. Two hours earlier, RBNZ also cut its rate by 75 points to a historic low of 0.25%. This morning, the Bank of Japan expanded its QE.

Saudi Arabia is flooding markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia, in an escalation of its fight with Moscow for market share, five trading sources.

Europe has become the new epicenter of the COVID-19 pandemic as cases in China slow and the deadly coronavirus runs through Italy and the rest of that continent, World Health Organization officials said Friday. “More cases are now being reported.