South Africa tour of India 2019
Global Markets Retreat As Trump Tested Positive For Coronavirus
Global markets were startled by the news of US President Donald Trump and first lady Melania had tested positive for Covid-19
Investors wasted no time in ditching European stocks. In Europe, the FTSE 100 down 1.1% at the open, the German DAX dropped as much as 1.4%, and the French CAC 40 fell 1.3%. Markets remained in the red by mid-afternoon.
Oil also continued to lose ground and dropped 5% to $38.89 by mid-afternoon. Brent crude prices were already in negative territory amid fears that a $2.2tn COVID-19 relief plan approved by the US House of Representatives appeared to be doomed by objections by the Republican-controlled US Senate
The S&P 500 down 1.55%, while the Dow and Nasdaq shed 1.4% and 2% respectively at the open.
Overnight in China, the Shanghai Composite closed down 0.2% and the Shenzen Component ended flat. Both saw sharp falls after the news of Trump’s COVID-19 diagnosis was made public. The Hong Kong Hang Seng rose 0.8%.
In other news:
Walmart agreed to sell Asda to the Issa brothers and TDR Capital in a deal that values the company at £6.8bn
The National Crime Agency says the UK’s government-backed Bounce Back Loan Scheme (BBLS) for small businesses seeking is being exploited – including by criminals
Comments