An ugly day in the European markets. Big declines across the board coronavirus spread.

  
Analysis, Global Indices

German DAX down 4%.

The European markets are now closed and it was an ugly one today. The major indices all fell sharply as global fear about the spread of the coronavirus takes solid hold on growth prospects.  If anything, the uncertainty about the spread is worrying investors.

The provisional closes are showing
  • German DAX fell -4.0%. The low reached -4.4%
  • France’s CAC fell -4.1%. The low reached -4.39%
  • UK’s FTSE 100 fell -3.5%. The low reached -3.91%
  • Spain’s Ibex fell -4.0%.  The low reached -4.32%
  • Italy’s FTSE MIB fell -5.5%. The low reached -6.13%
In the European debt market, the benchmark 10 year yields are mostly lower with the exception of the Italian yield as investors flee the risk from that market.
German DAX down 4%.
In other markets as European/London traders look to exit:
  • spot gold is up $30.68 or 1.087% at 1673.94
  • WTI crude oil futures is getting crushed and is trading down $-2.57 or -4.81% at $50.81
In the US stock market, the major indices are down sharply but off session lows
  • S&P index -100 points or -3.01% at 3237.30. The low reached 3231.52
  • NASDAQ index -3.43 points or -3.59% at 9232.33. The low price reached 9166.00
  • Dow is down -915 points or -3.16% at 28077. The low reached 27995.37
Go to top