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As the market players are aware, not so long ago, the investors were fearing global slowdown and these fears have the potential to disrupt the global equity markets. In a scenario where there are increased fears of global growth, the market participants tend to avoid making investments in the equity markets and even they liquidate their current holdings. However, it can be said that the fears of global growth are once again haunting the market players after the recent comments from Mario Draghi, the President of the European Central Bank. The fears of global economic growth can significantly weigh over the sentiments of investors.
The investors are also tracking the news related to trade battle between the US and China as this is also an important factor which could influence momentum in the global equity markets. The settlement of trade war could support the broader equity markets. The worries about global economic growth can derail the sentiments of the investors. Yesterday (i.e., March 7, 2019), Dow Jones Industrial Average ended the session at 25,473.23 which implies the significant fall of 200.23 points or 0.78%. Also, S&P 500 Index ended the session on March 7, 2019, in red as the index closed at 2748.93 which reflects the fall of 22.52 points or 0.81%.
Oil Prices Are Sensitive to Global Macro Factors
Since the market players are aware, the oil prices are sensitive to global macro factors and any concerns associated with the global economic growth could weigh over the oil prices. The recent comment from Mario Draghi has increased the fears of slowing global economy in the minds of market players and has the potential to negatively impact the oil prices. In the scenario of slowing global growth, the fears about the oil demand increases which negatively impacts the oil prices.
Australian Markets Ends the Session in Red
The Australian markets closed the session in red as S&P/ASX200 index closed at 6203.8 which reflects the fall of 60.1 points or 1%. The performance of Australian markets gets primarily influenced by the macro factors. If the worries about global downturn increases, it might negatively impact the equity markets in Australia. Coming to the stocks, Afterpay Touch Group Limited (ASX:APT) and Super Retail Group Limited (ASX:SUL) had ended todayâs session in green as the prices of these stocks closed by rising 2.991% and 2.1%, respectively on an intraday basis.
On the other hand, Infigen Energy (ASX:IFN) and Ardent Leisure Group Limited (ASX:ALG) had ended the session in red as the prices of these stocks encountered the decline of 6.542% and 5.788%, respectively on an intraday basis. Coming to some of the important news, Bank of Queensland (ASX:BOQ) had come forward and made an announcement about the retirement of its Chief Risk Officer. In order to read the full news, please click here. Also, CIMIC Group Limited (ASX:CIM) had come forward and made an announcement about A$172 million contract. In order to read the news, please click here.
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