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 stocks are mixed as Tokyo revives after muted Wall Street
On Tuesday, Asian stocks traded mixed, with Tokyo reviving after America demonstrated a muted reaction to President Donald Trump's inability to replace Obamacare.
Japan's Nikkei 225 inched up 1.07%, reviving from a steep drop overnight as Lenovo Group and Fujitsu announced the postponement of their target date for a final agreement on their personal computer business tie-up. Stocks of Fujitsu rallied 2.70%t and the Hong Kong-listed Lenovo surged 1.23%.
In Australia, the S&P/ASX 200 soared 1.15%. However, retail company Myer dipped 4%, having soared 18% on Monday amid rumors that a takeover bid was on the cards.
The Shanghai composite tumbled 0.26%, while Hong Kong's Hang Seng index gained 0.49%.
Overnight, American stocks closed mostly lower on, as market participants mulled over President Trump’s ability to push through major proposals, which include tax reform, right after on Friday the healthcare bill was dropped.
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.