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?
British shares revive slightly from dip
On Tuesday, British stocks soared, backed by American markets ending their session quite above their worst levels, although market participants appeared to stay away from big bets ahead of a major Brexit step.
The FTSE 100 index UKX increased by 0.3%, hitting 7,317.30, reviving somewhat from Monday’s 0.6% dip, which left the benchmark at its lowest value in almost a month.
The given drop arose amid a global stock sell-off that was blamed on concerns that Donald Trump might have difficulties with implementing business-friendly measures after a Republican overhaul of the health care system failed. However, the S&P 500SPX, closed down by just 2 points, having tumbled by 22 points previously.
With the fight to replace the Affordable Care Act stalled, Donald Trump points out he's going to shift to tax reform.
Meanwhile, on Tuesday, the British pound was trading at $1.2572, moderately higher from $1.2565 late Monday, ahead of a much anticipated step in Britain’s withdrawal from the EU.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
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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.
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