Coronavirus Outbreak Derails Global Stocks; Treasury Yields Fell to All-Time Lows

US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 104.69 points or 3.46% lower at 2,919.25, Dow Jones Industrial Average Index contracted by 854.28 points or 3.27% lower at 25,267.00, and the technology benchmark index Nasdaq Composite traded lower at 8,454.74, down by 283.86 points or 3.25% against its previous day close (at the time of writing, before the U.S market close at 10:00 AM ET).

US News: On 6^th March 2020, as the Coronavirus fears arose in the States of California and New York, US investors went into panic mode, as stocks opened in the red again, for the second time this week. JP Morgan Stocks were down by 4.4 per cent, following a news that CEO Jamie Dimon had to go through a heart surgery. Costco Wholesale shares also lost about 1.5 per cent during the Friday’s trading session. Starbuck stocks fell by 3.1 per cent after making announcements regarding stopping its operations in the entire Chinese territory. Facebook was under the microscope, as the company took down various ads put in place by the campaign of US President Donald Trump as a reflection, the company’s stock lost around 3.1 per cent in value.Â

S&P 500 (SPX)

Top Performers*: Alaska Air Group Inc, Cabot Oil & Gas corp, and United Airlines Holding Inc are top gainers and increased by 4.07%, 3.22% and 2.62% respectively.

Worst Performers*: H&R Block Inc, Occidental Petroleum Corp and Mylan NV are the top three laggards and decreased by 11.13%, 8.10% and 7.24% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Digirad Corp, IFresh Inc, and Spherix Inc are top gainers and increased by 143.26%, 59.85% and 40.85% respectively.

Worst Performers*: InVivo Therapeutics Holdings Corp, American Outdoor Brands Corp, and Bionano Genomics Inc are the top three laggards and decreased by 56.76%, 38.16% and 29.65% respectively.

Worst Performing Sectors*: Energy (Down 4.76%), Utilities (Down 3.45%) and Technology (Down 3.08%)

Dow Jones Industrial Average (DJI)

Top Performers*: Walgreens Boots Alliance Inc is top gainers and increased by 0.66 %.

Worst Performers*: American Express Co., JPMorgan Chase & Co and Exxon Mobil Corp are top laggards and decreased by 4.62%, 4.47% and 4.43% respectively.

European Markets: Broader equity benchmark index FTSE 100 closed the Friday’s trading session 242.88 points or 3.62% lower at 6,462.55, the FTSE 250 index traded last 576.62 points or 2.98% lower at 18,746.51, and the FTSE All-Share Index ended the session 130.54 points or 3.50% lower at 3,600.95 respectively. Also, European equity benchmark index STOXX 600 closed Friday’s trading session with 13.96 points or 3.67 per cent lower at 366.80.

European News: In economic news, the index of demand for staff from the Recruitment and Employment Confederation (REC) maintained by accounting firm KPMG and ministered by Bank of England stands at 57.2 for the month of February, which is the highest since January 2019. The increase in the index from 54.8 in January 2020 to its current levels is the biggest since 2013. Vice Chairperson of KPMG James Stewart while commenting on the data stated that the forth coming months could be challenging on account of the coronavirus scare, which could far surpass the dangers the country was facing on account of Brexit.

London Stock Exchange

Top Performers*: AO WORLD PLC (AO.), PORVAIR PLC (PRV) and PETROPAVLOVSK PLC (POG) are top gainers and increased by 5.80%, 4.33% and 3.41% respectively.

Nastiest Performers*: KIER GROUP PLC (KIE), MCCOLL'S RETAIL GROUP PLC (MCLS) and FOXTONS GROUP PLC (FOXT) plunged by 13.69%, 13.45% and 13.39% respectively.

FTSE 100 Index

  5 days FTSE 100 Index Performance (March-06-2020), before the market closed (Source: TR)

Top Gainers*: POLYMETAL INTERNATIONAL PLC (POLY) and ROLLS-ROYCE HOLDINGS PLC (RR.) traded in green zone and leapt up by 0.62% and 0.10% respectively.

Top Slackers*: CARNIVAL PLC (CCL), ANGLO AMERICAN PLC (AAL) and INTERCONTINENTAL HOTELS GROUP PLC (IHG) were among the beaten down stocks and plunged by 8.98%, 8.67% and 7.27% respectively.

Shares with high volume*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE GROUP PLC; (BARC) BARCLAYS PLC.

Sectors in the negative zone*: Consumer Cyclicals (down 4.95%), Technology (down 4.64%), and Utilities (down 4.32%).

Currency Rates*: GBP/USD and EUR/GBP were trading at 1.3014 and 0.8696, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was hovering at 0.710%, and the UK 10-Year Government Bond yield was trading at 0.227%, respectively.

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*At the time of writing