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?
Asia-Pacific stocks are mixed
On Friday, Asia-Pacific stock indices were quite mixed amid cautious trading after US President Donald Trump dared to cancel the highly anticipated summit with North Korean leader Kim Jong-no and also accused North Korea of showing great anger as well as open hostility. Prolonged emotions about trade wars also greatly impacted the mood of investors.
However, some of the markets in the region have regained earlier losses after North Korea stated that it’s ready for negotiations with the United States notwithstanding the cancellation of the meeting by Trump.
The Australian market tumbled after dismal signals from Wall Street. Banks, mining and crude companies declined, gold and mining stocks gained.
Shares of BHP Billiton dived by more than 1%, Fortescue Metals lost by 1%, and Rio Tinto went down by 0.5%.
Westpac, Commonwealth Bank and National Australia Bank went down in the range 0.3%-0.9%, while ANZ Banking tumbled less than 0.1%.
Besides this, Santos equities dived by 0.5%, Oil Search went down by nearly 1%, while Woodside Petroleum edged down more than 2% after crude prices sank during the night.
The market value of Evolution Mining declined by nearly 2%, Newcrest Mining lost more than 1% after the price of gold rallied overnight.
The Japanese market recovered after a poor start, as North Korea told it was ready to resolve issues with the United States notwithstanding the cancellation of the summit.
Canon stocks tacked on 0.2%, while the market value of Mitsubishi Electric went down by 0.1%, Sony lost 1% and Panasonic edged down by 0.3%.
Among the car makers, Toyota and Honda diminished their capitalization by respectively 1% and 0.4%.
In addition to this, equities of Kirin Holdings inched up more than 4%, Sumitomo Dainippon Pharma gained nearly 3%, while IHI Corp. acquired more than 2%.
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!
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.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.