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 shrug off NKorea missile launch
On Wednesday, Asian stocks held revenues as Chinese markets returned after a two-day holiday and traders shrugged off the launch of a ballistic missile by North Korea ahead of an upcoming summit between American and Chinese leaders this week.
The Shanghai composite managed to earn 0.98%, Hong Kong's Hang Seng index inched up 0.24%.
Besides this, Japan's Nikkei 225 gained 0.27%, the S&P/ASX 200 surged 0.03%. As for South Korea's Kospi, it almost stood still.
Overnight, American crude stocks closed higher, following the publication of positive American trade data. The latest batch of American economic trade data, contributed to the narrative of a stronger American economy because in February the US trade deficit narrowed by more than expected.
On Tuesday, the Commerce Department told that the trade deficit dipped by 9.6% to $43.6 billion. Additionally, January's trade deficit was revised from $48.5 billion down to $48.2 billion. Experts had expected the trade gap to contract to $44.8 billion in February.
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 British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
Jerome Powell made a rare appearance in the public media this Thursday. What did he bring to the audience?