Losses all over the board - Wednesday review, May 13

Losses all over the board - Wednesday review, May 13

Jerome Powell painted the world red. Most benchmarks encountered losses.

The US

Wall Street closed on red yesterday, after Jerome Powell’s speech regarding the state of the economy as being the worst since World War II. The interest rates will be the same, and for now, he is not considering the negatives rates a solution. USA30 lost the most – 2.17%. TECH100 and USA500 lost over 1.5%, 1.55% and 1.75%, respectively.

Safe-haven Gold gained 0.28% to $1,721.25 per ounce.

Brent Oil dropped by 2.6% to $29.19 per barrel. Oil was down 1.9% to $25.29 per barrel, after last week it gained more than 17% overall.


Asia and Australia

HongKong45 lost 1.01% even though Tencent’s financial report exceeded expectations.

Japan225 shed 0.63% in expectance of its prime minister’s decision on ending the state of emergency sooner than May 31. USD/JPY was still at 106.91.

After the unemployment report showed unexpected numbers, Australia’s ASX dropped 0.81%, and the AUD/USD reached a low of $0.6420.


Europe

Europe50 fell 1.4%, while UK100 lost 1.51%. Germany30 declined by 2.56%. France40 dropped the most by 2.85%.

EUR/USD traded at $1.0818.

GBP/USD approached a five-week high of $1.2238.

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Sources: cnn.com, investing.com, marketwatch.com


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