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 dive across the board on American jitters
On Friday, Asian shares inched down across the board, taking a cue from a shaky Wall Street because political woes for Donald Trump threaten his tax cut as well as infrastructure spending initiatives.
Japan's Nikkei 225 sank 1.10%, South Korea's Kospi declined 0.21%.
Other financial markets in Asia tumbled, with the S&P/ASX 200 losing 0.72%. Meanwhile, in China, the Shanghai Composite decreased 0.20%, the Hong Kong Hang Seng index inched down 0.71%. Additionally, in China, July’s data on house prices revealed a 9.7% soar, versus a 10.2% surge reported in June.
Wynn Macau’s stocks descended 2.23% right after Hong Kong-listed subsidiary of Wynn resorts unviled a revenue of HKD 1.59 billion for the first half of 2017, surpassing the HKD 1.1 billion recorded for the same period of 2016.
Overnight, American shares concluded lower because the recent controversies absorbing Donald Trump powered worries that his pro-surge policies could be postponed, compensating positive reports showing that the US economy kept strengthening.
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 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.
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.