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 soar as Irma hit hard
On Monday, equities in Asia gained with market participants cautiously optimistic as for the damage from Hurricane Irma to Florida, as it didn’t appear to be as bad as expected even as Goldman Sachs dared to have its third quarter GDP surge estimate trimmed by 1% considering the impact of Hurricane Harvey.
Japan's Nikkei 225 rallied a smart 1.44%, South Korea's Kospi surged 0.79%, while the S&P/ASX 200 acquired 0.78%. Additionally, the Hong Kong Hang Seng index added 0.99%, the Shanghai Composite tacked on 0.13%.
Beside this, South Korean car makers Hyundai Motor as well as Kia Motors told they probably missed their 2017 sales objectives. On Sunday Yonhap announced that South Korean exporters have been affected by a diplomatic tiff with China as for the deployment of an anti-missile defense system. Kia and Hyundai equities erased revenues observed earlier in the session to dip respectively 0.74% and 0.94%.
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 was at $20 per barrel just in the beginning of the day. Currently - above 25$.
27,000 people became unemployed in private sector
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.