· Dow Falls 900 Points, or 4.55%, Ending Volatile Week as New York and U.K. Go on Lockdown
Stocks fell Friday to end a volatile week that saw global central banks and governments launch massive stimulus measures to soften the blow from the harsh economic impact of the coronavirus pandemic.
The Dow Jones Industrial Average finished down 913 points, or 4.55%, to 19,173, the S&P 500 declined 4.34% and the Nasdaq gave up 3.79%.
Stocks fell despite global central banks and governments launching massive stimulus measures to soften the blow from the harsh economic impact of the coronavirus pandemic.
Stock markets were looking at the worst trading performance since 2008
The Dow industrials dropped 17.3% for the week. The S&P 500 lost 15% and the Nasdaq fell 12.6%.
· European stocks close higher as monetary and fiscal measures mount; travel and leisure up 9%
European markets closed higher Friday, following a volatile week as central banks and governments around the world adopted a “whatever it takes” approach to mitigating the economic hit from the coronavirus pandemic.
The pan-European Stoxx 600 provisionally closed around 1.4% higher, paring earlier gains. Travel and leisure stocks surged over 9% to lead gains after taking a hammering due to coronavirus shutdowns, while media stocks bucked the upward trend to fall more than 1%.
· South Korea stocks surge more than 7% as China keeps loan prime rate unchanged
Stocks in Asia Pacific saw significant declines in Monday morning trade as fears over the economic impact of the global coronavirus outbreak continue to weigh heavily on investor sentiment.
South Korea stocks were among the biggest losers among major regional markets, with the Kospi falling 5.59% in early trade.
Over in Australia, the S&P/ASX 200 dropped 5.73% in morning trade as the sectors mostly fell. The heavily weighted financial subindex dived more than 7%, with shares of the country’s so-called Big Four banks all selling off steeply: Australia and New Zealand Banking Group fell 7.49%, Commonwealth Bank of Australia dropped 6.68%, Westpac declined 8.81% while National Australia Bank slipped 8.75%.
The Nikkei 225 in Japan bucked the overall trend regionally as it edged 0.6% higher, while the Topix index also added 0.1%.
Overall, the MSCI Asia ex-Japan index fell 1.72%.
Reference: Reuters, The Street, CNBC
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