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 tumble 0.22%
On Tuesday, European markets sank because market participants turned to be far more cautious ahead of the Fed’s highly-anticipated policy gathering this week, even as traders’ confidence was still healthy worldwide.
The EURO STOXX 50 dived 0.15%, Germany’s DAX 30 went down 0.22% and France’s CAC 40 dipped 0.11%.
The Fed’s generally believed to leave interest rates intact this week. Evidently, the Fed could provide clues on when it actually intends to start unwinding its balance sheet and on any future interest rate moves.
Meanwhile, worries over tensions between North Korea and America relived, although they can resume at any time.
On Tuesday, Donald Trump was braced for addressing the United Nations General Assembly for the first time, while North Korea was supposed to be on the agenda.
Financial shares demonstrated mixed performance because French lenders BNP Paribas gained 0.17%, while Societe Generale decreased 0.31%. As for Germany's Deutsche Bank, it soared 0.12%, Commerzbank went down 0.32%.
FTSE 100 sagged 0.05% in London.
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.