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?
Asian equities mostly jump ahead of Wyoming
On Friday, Asian equities mostly rose because markets were cautious. However, positive approach ahead of speeches by the ECB and Fed governors in Wyoming that could set fresh tones on monetary policy.
Japan's Nikkei 225 headed north 0.60%, the S&P/ASX 200 declined 0.06%.
On Friday, Australia's Qantas Airways disclosed its second-highest outcome in the company's history. Evidently, the airline's underlying revenue before tax went up to AUD1.4 billion by June 30.
In South Korea Kospi grew 0.10%.
Samsung Heavy went up 4.65%, Samsung SDI ascended 0.52%. However, Samsung Electronics went down 0.34%.
In Hong Kong, the Hang Seng index jumped 0.68%, the Shanghai Composite surged 1.16%.
Overnight, American shares concluded lower because a soar in retail equities led by Abercrombie and didn’t manage to inspire a broad based soar because traders shifted to monetary policy, as the annual major banking symposium got underway.
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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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