Stock market is bleeding: what do you need to know
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 shares sharply decline after Barcelona attack
On Friday, European equities started steeply because market sentiment weakened reacting to news of a recent terrorist attack in Barcelona, while political turmoil in America also kept rattling traders’ confidence.
The EURO STOXX 50 lost 0.89%, Germany’s DAX 30 dipped 0.69%, France’s CAC 40 decreased 0.90%, while Spain’s IBEX 35 inched down 0.98%.
Market sentiment was affected after on Thursday a van suddenly rammed into pedestrians in a crowded tourist area, Barcelona, murdering 13 people and injuring up to 100 others.
Financial markets were also anxious after on Wednesday eight chief executives abandoned two business advisory councils protesting over Donald Trump’s quite controversial statement on weekend violence in Virginia.
Financial equities broadly declined because French lenders BNP Paribas as well as Societe Generale lost 1.71% and 1.32% respectively. Meanwhile, Germany’s Commerzbank as well as Deutsche Bank went down 1.19% and 2.22% respectively.
FTSE 100 sagged 0.61% because British lenders tracked their EU rivals lower.
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What is pulling the stocks down?
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Important events on February 17-21
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
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