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Global markets lost momentum over the ever-rising number of COVID-19 infections - Tuesday Review, October 27

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Miguel A. Rodriguez
Miguel A. Rodriguez
28 October 2020
The markets extended loses as the virus continued to wreak havoc

The US

The markets switched their focus from the stimulus package to the rising number of COVID-19 infections. As of yesterday, the States have reported more than 8.7 million infections. USA30 lost 0.80%, while USA500 closed 0.30% lower. TECH100 went up 0.64%.

Brent Oil gained 0.87% at $40.81 per barrel. Crude was up 0.78% at $38.86.

Gold added 0.32% to $1,907.64 an ounce.

 

Asia and Australia

The benchmarks fell as investors were fearful of the ever-rising number of COVID-19 infections. Japan225 dropped 0.11%.

HongKong45 slid 0.76%.

Down under, Australia200 closed down 1.7%, marking its worst session in a month.

USD/JPY lost 0.03% to 104.78.

 

Europe

Europe50 and Germany30 each fell 0.9%. France40 slipped 1.6%, reaching a one-month low.

The drops came as the markets are worried about a new economic fallout. In Germany, Chancellor Angela Merkel announced a potential “lockdown light” of bars and restaurants.

Sources: marketwatch.com, reuters.com, investing.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.