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?
US stocks are braced to start lower
On Monday, key US stocks were set to start a bit lower because traders struggled to neglect global surge worries even as a report revealed that American leader’s campaign didn’t collude with Russia.
On Sunday, S&P 500 futures initially went up after Special Counsel Robert Mueller failed to find any evidence of collusion, although the report left untackled the issue of whether US leader obstructed justice by undermining the probes that have dogged his presidency or not.
It followed the key indexes’ greatest one-day percentage dives since January 3 on Friday, provoked by dismal factory data from America, Japan, and the European Union, which also provoked the inversion of American Treasury yield curve for the first time since 2007.
By the way, an inverted yield curve is considered to be a key gauge of downtime.
In addition to this, a poll from Germany, the EU’s number one economy, uncovered that the country’s business morale improved suddenly in March following six consecutive dives, backing sentiment as well as assisting yields on the 10-year bonds to rebound above the three-month rates.
Moreover, ET, Dow e-minis slumped by 0.09%. As for S&P 500 e-minis, they decreased by 0.11%, while Nasdaq 100 e-minis headed south by 0.24%.
Aside from that, Apple Inc headed north by 0.9% ahead of an event where the company is generally anticipated to launch its video streaming service.
Boeing went up by 0.8% right after the planemaker told it’s going to brief pilots as well as watchdogs this week on software and also training updates for its 737 MAX aircraft, with Ethiopian Airlines as well as Qatar Airways also demonstrating confidence in the company notwithstanding a recent crash.
Furthermore, Akamai Technologies dived by 4.4%.
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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