We are looking out of the windows of DevDosh towers and seeing a world that is going crazy. There is even talk of a three month shut down of the financial markets.
Here’s a round up up the main market news for Wednesday 18th March. Hope it helps set up your day and that you can move forward positively onto more secure ground.
Asian Equity Markets
Indices have been mixed today (our Wednesday) as Wall Street experience somewhat of a bounce back overnight off the back of stimulus hopes. Australian stocks were top of the loss league with a drop of 4.46% on the S&P/ASX 200. Nearly all sectors fell. The Shanghai composite gained 1.26% and the Hang Seng was a touch higher than that. Japan didn’t see a bad day either with a small gain of 0.84%
The US dollar held strong overnight as everyone is rushing for the safety of the worlds reserve currency. The GB pound and the Japanese yen saw some action as well but not enough to claw back their previous losses.
Oil seems to have bottomed out at its 4 year low. Demand has run out of the market by the bans on air travel and the global lock down as a result of the Coronavirus.
The S&P 500 was up 6% yesterday regaining a good swathe of Mondays losses as the FED and the White House did their best best to boost liquidity. Flavours of the day were tech and health care stocks. The technology sector climbed 6.8% and after Pfizer announced a Coronavirus vaccine play they their stock rallied 6.6% as well
The FED QE4 is easing pressure in the bond market and yields climbed as a result.
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