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 stocks start with a minor dip
On Friday, at the start of the trading session, American stock indices demonstrated a moderate dive in anticipation of the gathering of leaders of G7 countries. As a result, the American stock market has concluded the trading week in positive territory.
As a matter of fact, the Dow Jones Industrial Average index inched down by 0.18% and came up with an outcome of 25196.56. Besides this, Standard & Poor's 500 slumped by 0.16% reaching 2765.91. Nasdaq Composite dipped by 0.35% amounting to 7608.62.
Equities of Apple Inc declined by 1.8% following the NikkeiAsian Review news that Apple's orders for the assembly of the fresh iPhone that the tech giant is anticipated to roll out in September, will turn to be 20% lower than in 2017.
Previously, the publication informed that in September 2018, Apple is about to introduce three fresh models of the iPhone, and two of which are going to come with costly screens with organic light-emitting diode technology. Another new model is supposed to feature a more economical LCD-screen, employed in the line of iPhone 8.
The stocks of the manufacturer of Broadcom microchip headed south by 3.1% right after the publication of the news after the market concluded the day before.
In addition to this, the equities of DocuSign startup, which develops electronic signature technology as well as digital transaction management, went up 2.3% because of strong quarterly financial indicators.
Capitalization of Verizon Communications Inc, which appears to be the second-largest American telephone operator, headed south 0.8%. The tech-giant announced the appointment of technology director Hans Westberg as the fresh CEO. On this post he’s going to replace retiring Lowell McAdam, heading the company since 2011.
The tension between America and the rest of the long-awaited summit is tacking on, as the participants are still unable to come to compromise on international trade.
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!
RBA Rate Statement is released on Tuesday at 07:30 MT time.
WTI oil prices jumped up after Donald Trump’s 2 tweets
Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.