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Lockdowns in Europe fuel investor fears regarding a slower economic recovery - Tuesday Review, March 23

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Miguel A. Rodriguez
Miguel A. Rodriguez
24 March 2021
Shares slipped as Europe is fighting the third wave of COVID-19 infections

The US

Wall Street closed in the red amid fresh lockdowns in Europe, overshadowing Jerome Powell, and US Treasury Secretary Janet Yellen's supportive remarks regarding economic recovery. The two officials shrugged off inflationary pressure and reiterated the fact that the Fed is accommodating its monetary policy stance. USA30 fell 0.82%, and USA500 was down 0.66%. TECH100 lost 0.96%.

Crude oil fell 4.3% to $58.91 a barrel.

Gold settled down 0.8% at $1,725.10 per ounce.

The Dollar Index traded at 92.019.

 

Asia and Australia

HongKong45 fell 1.62%. Baidu made its debut, but it barely trading above its secondary listing price.

Japan225 traded 0.07% higher.

Down under, Australia200 was up 0.19%.

 

Europe

Germany30 dropped 0.4% after Chancellor Angela Merkel decided to extend the lockdown until April 18 and advised the citizens to stay home for five days over the Easter holidays.

UK100 traded 0.4% lower after the country's government extended its travel ban until July. Anyone who attempts to leave the country faces fines up to £5,000.

France40 lost 0.39%.

Brent oil traded at $63.90 per barrel after it lost 1.24%.

Sources: 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.