Wednesday in review: 18.03.2020

Wednesday in review: 18.03.2020

The New York Stock Exchange (NYSE) added to financial worries on Wednesday when it announced it would temporarily close its trading floor.

All-electronic trading will begin on March 23 at the opening time, the exchange said. The closure was in part a result of positive Coronavirus tests of two people, Stacey Cunningham, President of the NYSE, told CNBC.

Even though measures were taken to protect the economy by the Federal Reserve, and the Central Banks around the world, yesterday wasn't a good day for indices. The stock market dropped on Coronavirus fear. New lows have been reached by the indices:

  • USA30 was down 6.3% - its lowest level since November 21, 2016. Since the beginning of the year, it had a drop of 30.27%, being the worst year since 2008
  • USA500 was down 5.17% - its lowest level since February 2, 2017. Since the beginning of the year, it had a drop of 25.76%, being the worst year since 2008
  • TECH100 was down 4.7%

The pan-European Europe50 saw a 4% fall at the end of the session, while Frankfurt's Germany30 plummeted 5.56% to 8,441.71. The Paris France40 dived 5.94%, and Milan Italy40 slipped around 1.27%. London benchmark UK100 index dropped 4.05% to 5,080.58 points by the end of the day.

On the energy market, things don't look too rosy. The price war between Saudi Arabia and Russia is expected to last until 2021, energy analysts have told CNBC.

Brent Oil traded at $26.01 per barrel, being down 9%, while WTI traded at $22.73, being down more than 15%. They fell to the lowest level since September 26, 2003, respectively, March 6, 2002.


Sources: cnbc.com, dw.com, investing.com

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