Virus Fears Grip Markets Again; Stocks Yields Slide.
NEW YORK — Stocks plunged sharply on Thursday fears over the economic markets, and fears of a rapidly spreading virus. It was the latest shudder in Wall
Street’s wildest week in more than 8 years.
Major American indices declined by about 3.5%, and Treasury yields fell short of record highs in their recent Yo-Yo move. About a day ago, the trend for this slide hike was over, which came in the hopes that action from global authorities could end the economic crisis.
Many analysts and professional investors say these swings should continue as long as the number of new infections increases. Thursday was the fourth straight day, with the S&P 500 moving at least 2%, the longest period since the summer of 2011.
The growing understanding that the spread of infection – and the consequent damage to the economy – is not going to slow down anytime soon, as markets are booming. The bridge has turned around the world this week amid growing pressure that governments and central banks are trying to market through spending plans and interests rates cuts.
Some economists expect the European Central Bank to take some action in hopes of supporting its markets ahead of the March 12 summit. Japan’s Nikkei 225 gained 1.1 percent, South Korea’s Kospi 1.3 percent and Shanghai’s stock increased by 2 percent. But as trade shifted to Europe, markets declined. French CAC 40 declined 1.9 percent, Germany’s DAX dropped 1.5 percent and the F TSE 100 dropped 1.6 percent. Several measures in the market panic have been tightened.
The yield on the 10-year Treasury plunged from 0.99 to 0.91 to Wednesday. For the first time in history, it touched 0.901%, according to Trade Web. Gold rose $25.00 to $1,668.00 an ounce when investors declared the investments safe.
The benchmark American crude oil fell 88 cents to $45.90 a barrel. International-quality Brent Crude fell 1.14 fell to $49.99 a barrel.
Rally in China
In China, where the number of new infections is slowing down, stock trading in Shanghai has hit almost 12% since hitting a low level on February 3, with
factories reopening slowly, and normal There is a return to the sense of life. Horizontal chaos and the government take drastic measures to eliminate the virus.
But the mood is deeper than anywhere else in the world. According to the World Health Organization, there are about 17 times more new infections outside
In the US, the death toll from the virus has risen to 11. California declared a state of emergency throughout the state, and Southwest Airlines warned its
investors that demand had dropped significantly in recent days.
The S&P 500 fell 106.18 to 3,023.94. The Dow Jones industrial average slumped 969.58 to 26,121.28, and the Nasdaq Composite Index lost 279.49 to 8,738.60.