Stock market is bleeding: what do you need to know
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 stabilizes after soar
On Wednesday, Asian equities stabilized, taking a breather after the previous day's ascend and also unable to keep up with a global soar caused by revenues for tech equities on Wall Street as well as miners in Europe.
The US currency was buoyant versus the euro and yen before a gathering of key bankers later in the week.
MSCI's broadest index of Asia-Pacific equities outside Japan that initially tacked on to a two-week maximum, pulled back to fluctuate a bit following Tuesday’s 0.7% surge.
Australian equities slumped 0.4%, while South Korea's KOSPI gave back earlier modest revenues to stand intact.
Japan's Nikkei N225 managed to buck the trend, gaining 0.5% because the greenback strengthened versus the Japanese yen.
European shares had also soared overnight, underpinned by positive results from miners as well as a weaker euro.
Meanwhile, copper retreated from a three-year maximum, while other base metals dropped too or trimmed revenue.
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What is pulling the stocks down?
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Important events on February 17-21
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
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