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 stock markets slide
On Friday, Asian equity markets descended across the board, taking a breather from recent leaps and after the ECB took rather a dovish stance on policy as well as its everlasting stimulus program.
In Hong Kong, the Hang Seng Index decreased 0.19% trading at 26,690, with equities still keeping to peaks not observed for two years. On Friday, the market started on a positive note, but rebounded on profit taking.
China's markets shrugged off some recent profits, dropping for the first time in four days. The Shanghai Composite Index slid 0.21% trading at 3,238. The Shenzhen Composite Index didn’t change, soaring just 0.02% and demonstrating 1848.
In Japan, the Nikkei went down 0.30% trading at 20,084. On Thursday, the Bank of Japan didn’t change it monetary policy and hinted that a near-term change in its stance wasn’t probable. The Bank of Japan’s monetary policy statement as well as interest rate verdict was expected to comment on the tempo of asset buying at ¥80 trillion every year and probably hint of tapering.
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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.
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Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
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