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?
American equities slump, as traders await earnings reports
On Monday, American futures tumbled due to the fact that market participants paused before a bunch of corporate profits this week.
The S&P 500 futures headed south by 0.12% being worth 2,797.50, Dow futures dipped by 0.11% trading at 25,002.0. At the same time, the Nasdaq 100 futures inched down by 0.47% showing 7,325.75.
Earnings season resumed this week. Google is anticipated to post its outcomes after the closing bell. Additionally, Hasbro, Whirlpool, TD Ameritrade Holding Corporation as well as others are also expected to unveil their corporate revenues on Monday.
Geopolitical tensions kept market participants on edge because American leader told on Sunday that Iranian President Hassan Rouhani shouldn’t threaten his country.
At the same time, Fiat Chrysler Automobiles managed to dip by 3.16% in pre-market trade after the car maker had to replace CEO Sergio Marchionne due to his disease after July’s surgery. Besides this, Tesla declined about 4.28% reacting to news that the company was urging suppliers for cash back to assist in turning revenues, while semiconductor Micron Technology Inc headed south by 1.94%.
Aside from that Chinese e-commerce company Jd.Com Inc Adr inched up by 1.63% following information that it was on the verge of expanding into the European Union.
In the European Union, equities generally dived. The DAX headed south by 0.34% in Germany. In France, the CAC 40 descended by 0.57%, while the FTSE 100 lost 0.37% in London. Besides this, the Euro Stoxx 50 declined by 0.45%. The IBEX 35 went down by 0.34% in Spain.
As for commodities, gold futures went down by 0.06% being worth $1,230.30 a troy ounce. Crude futures tacked on by 1.16% trading at $69.05 a barrel.
Estimating the greenback’s purchasing potential versus a pack of main currencies, the USD index declined by 0.01% hitting 94.24.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
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