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?
Asian equities decline as mounting Korea tensions back safe-have demand
On Friday, Asian stocks inched down steeply, affected by tough language between America and North Korea, which has drove safe haven demand.
In South Korea KOSPI lost 1.71%, Japan's Nikkei 225 went down 0.05%. Besides this, the Hong Kong index declined 1.87%, the Shanghai Composite decreased 1.60%, the Australia S&P/ASX 200 slid 1.30%.
Donald Trump warned of fury and fire earlier this week if North Korea kept threatening his country. However, on Thursday, Donald Trump didn’t consider this statement tough enough. He added that North Korea should be extremely nervous when planning the attack.
American equities slumped after the close on Thursday because losses in the Technology, Financials as well as Industrials sectors suppressed shares.
The Dow Jones Industrial Average lost 0.93% at the close in NYSE. Meanwhile, the S&P 500 index edged down 1.45%, the NASDAQ Composite index sank 2.13%.
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!
Moody’s downgraded the country to ‘junk’ status on Friday.
The US economy has been hit hard by the coronavirus outbreak.
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.