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?
European equities are set for the best trading week since July
On Friday, European equities tumbled as another missile launch by North Korea affected investors' appetite for riskier banking as well as mining shares, although the index was still on track for its strongest week since July with financial markets actively neglecting geopolitical turmoil.
The STOXX 600 lost 0.2%, while in Great Britain FTSE 100 tumbled 0.4% reaching a fresh four-month minimum.
EU equities were still headed for their best trading week in two months, which is fresh from Thursday’s five-week maximum as they revived from a summer decrease.
Banks SX7P went down 0.5%. They were among the biggest losers as traders shed the most risky assets. As for miners SXPP, they lost 0.7%.
PostNL grew 3.9% with market participants referring to a Goldman Sachs upgrade to a "buy". Meanwhile, Moeller-Maersk edged down 2.4% because after BAML had it reduced to "underperform".
Euro zone stocks STOXXE have managed to supplant the broader STOXX index year-to-date notwithstanding experts and traders hoping that the stronger euro might affect company earnings.
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!
RBA Rate Statement is released on Tuesday at 07:30 MT time.
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Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.