This translation has been automatically generated and has not been verified for accuracy.How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression.
That carnage has seen 22% and 24% slumps for Wall Street’s Dow Jones and S&P 500, almost 25% for MSCI 49-country world index and 27% for London’s internationally exposed FTSE. Russian stocks, which topped the tables last year, have been routed 40% in dollar terms. South Africa, which was stripped of its last investment grade credit rating on Friday, has fallen by the same percentage, though Brazil has been the worst, plunging 50%.
“These are truly historical moments in the history of financial markets. 2020 will go alongside 1929, 1987 and 2008 in the text books of financial market panics,” Deutsche Bank Strategist, Jim Reid, said.Sit-on-your-sofa-suited stocks like Netflix and Amazon have risen 10% and 2.5% respectively and some specialist medical equipment companies have surged.
Will April bring much relief? JPMorgan reckons the coronavirus will have pushed the world economy into a 12% contraction in Q1 and with pandemic still spreading rapidly and keeping large parts of the global economy shuttered it is unlikely to get much easier in Q2.
globebusiness Is it just me, or are traders and analysts just like cats? Impossible to train and nervous as hell. 🤪😋
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