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US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 260.75 points or 9.51% lower at 2,480.63, Dow Jones Industrial Average Index contracted by 2,352.60 points or 9.99% lower at 21,200.62, and the technology benchmark index Nasdaq Composite traded lower at 7,201.80, down by 750.25 points or 9.43% against its previous day close (at the time of writing, after the U.S market closed).
US News: On 12th March 2020, as the Coronavirus fears were on an increase in the States of Washington and New York, US investors also went into panic mode even after the reassurance from the President, as Wall Street opened in the red zone again, declining further below previous crash levels. Surprise move by Donald Trumpâs travel ban of Europeans in the country and tepid fiscal measures led to the latest downside in risky assets. European Central Bank accelerated its quantitative easing program and initiated steps to boost liquidity, though it left rates unchanged. Overall, U.S. equities fell by approximately 7 per cent, which triggered an NYSE trading halt for 15 minutes through a circuit breaker for a second time in the current week. All major stocks and indices were significantly hammered as JP Morgan fell by 7 per cent, General Electric fell by 10 per cent while Phillip Morris Shares were down by 8 per cent in pre-market trade.
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S&P 500 (SPX)
Top Performers*: Cabot Oil & Gas corp, Akamai Technologies Inc and Centene Corp are top gainers and increased by 3.52%, 1.49% and 0.02% respectively.
Worst Performers*: Norwegian Cruise Line Holdings Ltd, Lincoln National Corp and Royal Caribbean Cruises ltd. are the top three laggards and decreased by 26.61%, 23.41% and 22.33% respectively.
NASDAQ Composite (IXIC)
Top Performers*: Supercom Ltd, Predictive Oncology Inc, and CHF solutions Inc are top gainers and increased by 151.02%, 92.82% and 47.71% respectively.
Worst Performers*: Minerva Neurosciences Inc, GreenPro Capital Corp, and Zagg Inc are the top three laggards and decreased by 68.55%, 55.88% and 47.56% respectively.
Worst Performing Sectors*: Energy (Down 11.55%), Telecommunication Services (Down 8.29%) and Financials (Down 7.96%)
Dow Jones Industrial Average (DJI)
Worst Performers*: Dow Inc, Boeing Co and American Express Co. Â are top laggards and decreased by 17.90%, 14.11% and 11.41% respectively.
European Markets: The Londonâs broader equity benchmark index FTSE 100 traded at 639.04 points or 10.87% lower at 5,237.48, the FTSE 250 index snapped 1,621.81 points or 9.35% lower at 15,717.42, and the FTSE All-Share Index ended 344.86 points or 10.49% lower at 2,942.21 respectively. Another European equity benchmark index STOXX 600 ended down by 38.24 points or 11.48 per cent at 294.93.
European News: In economic news, the Boris Johnson government has presented its first budget yesterday after it pull-out from the European Union on 31 January 2020. Chancellor Rishi Sunak, one of the youngest faces in the Boris Johnson cabinet, delivered a budget that had a large component of resources directed towards tackling the current threat of the coronavirus pandemic that is threatening to derail the country into a recession. The chancellor while promising all possible help to fight the virus threat announced a £30 billion stimulus package to help businesses in the country to deal with the business disruptions that have been gripping the country as virus spread grows in the country.
London Stock Exchange
Top Performers*: BH GLOBAL LD (BHGG), SDCL ENERGY EFFICIENCY INCOME TRUST (SEIT) and RUFFER INVESTMENT COMPANY LD (RICA) are top gainers and increased by 3.64%, 0.96% and 0.92% respectively.
Worst Performers*: FINABLR PLC (FIN), GO-AHEAD GROUP PLC (GOG) and CARR'S GROUP PLC (CARR) plunged by 64.55%, 35.79% and 35.25% respectively.
FTSE 100 Index
5 days FTSE 100 Index Performance (March-12-2020), before the market closed (Source: TR)
Top Slackers*: TUI AG (TUI), PRUDENTIAL PLC (PRU) and FLUTTER ENTERTAINMENT PLC (FLTR) were among the beaten down stocks and plunged by 18.93%, 17.93% and 17.26% respectively.
Shares with high volume*: (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (VOD) VODAFONE GROUP PLC.
Sectors in the negative zone*: Telecommunications Services (down 11.70%), Consumer Cyclicals (down 11.05%), and Financials (down 10.85%).
Currency Rates*: GBP/USD and EUR/GBP were trading at 1.2589 and 0.8890, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was hovering at 0.823%, and the UK 10-Year Government Bond yield was trading at 0.276%, respectively.Â
*At the time of writing
