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US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 109.98 points or 3.69% lower at 2,868.78, Dow Jones Industrial Average Index plunged by 990.75 points or 3.85% lower at 24,775.89, and the technology benchmark index Nasdaq Composite traded lower at 8,292.80, down by 273.68 points or 3.19% against its previous day close (at the time of writing, before the U.S market close at 10:15 AM ET).
US News: On 28th February 2020, US Stocks followed global indices and opened in red. The S&P 500 index plunged by around 3 per cent and was down by almost 15 per cent from its record level. The US treasury yields traded to its all-time lows. Global markets were rattled over the coronavirus fears as across the board, all indices were significantly hammered in Fridayâs trading session. Gold, which is considered as safe heaven was also tumbled by more than 3 per cent, joining the carnage in oil and on Wall Street. Among the US stocks, Bank of America shares were down by 4.9 per cent, as the company looked to cut down its own growth forecast. Marriott International stocks were also down by 0.66 per cent, as the company announced a US $25 million worth of damage due to the Covid-19 outbreak. Big tech firms, especially the ones who have business relations in China were also found reeling. Microsoft stock slumped massively by 7.05 per cent, Apple shares were down by 6.54 per cent at the time of writing, while IBM Corp shares were down by 3.2 per cent in pre-market trade. In a nice turn of events for Gilead Sciences, the companyâs shares were up by almost 5 per cent, after the announcement that the company has developed two late stage trial drugs, that could potentially lead to the treatment of Covid-19.
S&P 500 (SPX)
Top Performers*: 3M Co, Monster Beverage Corp, and Netflix Inc are top gainers and increased by 2.81%, 1.19% and 0.80% respectively.
Worst Performers*: Mylan NV, Newmont Corporation, and Edison International were in the red zone and dipped by 11.03%, 4.75% and 4.30% respectively.
NASDAQ Composite (IXIC)
Top Performers*: Dynatronics Corp, Allied Healthcare Products Inc, and Altimmun Inc shares expanded by around 154.77%, 140.98% and 127.84% respectively.
Worst Performers*: Celsion Corp, Tonix Pharmaceuticals Holdings, and Novan Inc were among the beaten down stocks and contracted by 29.84%, 26.01% and 23.55% respectively.
Worst Performing Sectors*: Basic Materials (down 2.97%), Utilities (down 2.61%) and Telecommunication services (down 2.26%).
Dow Jones Industrial Average (DJI)
Best Performers*: 3M Co zoomed up by around 2.84%.
Worst Performers*: Apple Inc, Procter & Gamble Co, and JPMorgan Chase & Co. decreased by 4.14%, 3.08% and 2.88% respectively.
European Markets: The Londonâs broader equity benchmark index FTSE 100 closed Fridayâs trading session at 215.79 points or 3.17% lower at 6,580.61, the FTSE 250 index plunged by 452.53 points or 2.29% lower at 19,330.92, and the FTSE All-Share Index closed 114.36 points or 3.02% lower at 3,673.61 respectively. Another European equity benchmark index STOXX 600 too ended in red zone and was down by 13.80 points or 3.54 per cent at 375.65.
European News: In economic news, index of consumer confidence published by Market research firm GfK rose for the month of February 2020 in comparison to January 2020. The growth in the Index is the strongest since August 2018 and higher than the median consensus forecast of -8 in a poll conducted by economists. In business news, shareholders of Sirius Minerals PLC will decide on an offer from Anglo American Plc to take over the cash strapped company. Sirius Minerals PLC has been reeling under financial stress for some time and if the bid from Anglo American Plc should fail, the company could very well file for bankruptcy.
London Stock Exchange
Top Performers*: PLUS500 LTD (PLUS), PORVAIR PLC (PRV) and FINABLR PLC (FIN) are top gainers and increased by 11.16%, 6.60% and 6.03% respectively.
Worst Performers*: AMIGO HOLDINGS PLC (AMGO), DIALIGHT PLC (DIA) and KIER GROUP PLC (KIE) are the top three laggards and decreased by 11.26%, 10.20% and 9.86% respectively.
FTSE 100 Index
5 days FTSE 100 Index Performance (February-28-2020), before the market closed (Source: TR)
Top Gainers*: ROLLS-ROYCE HOLDINGS PLC (RR.), SAINSBURY(J) PLC (SBRY) and BT GROUP PLC (BT.A) traded in green zone and expanded by 5.76%, 0.41% and 0.07% respectively.
Top Laggards*: SMITH (DS) PLC (SMDS), SCOTTISH MORTGAGE INV TST PLC (SMT) and POLYMETAL INTERNATIONAL PLC (POLY) traded in red territory in todayâs session and dipped by 6.86%, 6.67% and 6.41% respectively.
Volume Leaders*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE GROUP PLC; (BARC) BARCLAYS PLC shares were traded with decent volume in Fridayâs trading session.
Sectors in the negative zone*: Basic Materials (-4.71%), Utilities (-4.60%), and Healthcare (-4.47%).
Forex Rates*: GBP/USD and EUR/GBP were trading at 1.2812 and 0.8610, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was hovering at 1.136%, and the UK 10-Year Government Bond yield was trading at 0.448%, respectively.
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*At the time of writing
