Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the US economy resurfaced and the number of coronavirus cases in the country climbed.
Monday, 30th March, 2020
China stocks rose on Friday to end the week higher, boosted by hopes of more stimulus to shield the world's second-largest economy from the coronavirus pandemic. The blue-chip CSI300 index rose 0.3 percent, to 3,710.06, while the Shanghai Composite Index also added 0.3 percent to 2,772.20. Hong Kong stocks rose on Friday to finish the week higher, joining a global rally as investors bet policymakers will roll out more measures to counter the economic impact of the coronavirus outbreak. The Hang Seng index rose 0.6 percent, to 23,484.28, while the China Enterprises Index also gained 0.6 percent, to 9,504.92. Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.23 percent, while Japan's Nikkei index closed up 3.88 percent, as stimulus hopes were bolstered after US unemployment filings surged to a record.
European shares closed in the red on Friday after EU lawmakers failed to agree on a coronavirus rescue package and British Prime Minister Boris Johnson announced he had been infected. The pan-European STOXX 600 index started the day about 2 percent lower, then closed down 3.3 percent after the announcement about Johnson's test. The declines followed a three-day rally, and the index marked its best week since 2011. London bluechip stocks had extended losses after the news, closing 5.3 percent down.
Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the US economy resurfaced and the number of coronavirus cases in the country climbed. US stocks deepened their losses late in the session, even after the House of Representatives approved a $2.2 trillion aid package - the largest in American history - to help people and companies cope with an economic downturn caused by the coronavirus outbreak and provide hospitals with urgently needed medical supplies. The US has surpassed China and Italy as the country with the most coronavirus cases. The number of US cases passed 100,000, and the death toll exceeded 1500. The Dow Jones Industrial Average slumped 4.06 percent to end at 21,636.78 points, while the S&P 500 lost 3.37 percent to 2,541.47. The Nasdaq Composite dropped 3.79 percent to 7,502.38.
Ahead of the local open SPI futures are 6 points higher at 4834.
|Foreign Equities||Close||Change||% Change|
|Dow Jones (US)||
|FTSE 100 Index||5510||-305||-5.25|
|Nikkei 225 (Japan)||19389||725||3.88|
|Oil - West Texas||/bbl||21.5||-1.1||
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6152||-0.0010||-0.16|
|$A vs GBP||0.4936||-0.0016||-0.32|
|$A vs EUR||0.5527||0.0011||0.19|
|$A vs YEN||66.20||
|$A vs NZD||1.0188||-0.0002||-0.02|