{"id":166009,"date":"2020-03-06T06:58:37","date_gmt":"2020-03-06T11:58:37","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166009"},"modified":"2020-03-06T06:58:37","modified_gmt":"2020-03-06T11:58:37","slug":"us-stocks-backslide-as-coronavirus-worries-persist","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/us-stocks-backslide-as-coronavirus-worries-persist\/","title":{"rendered":"US stocks backslide as coronavirus worries persist"},"content":{"rendered":"
March 6, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar weakening resumed<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> recovery paused on Thursday as investors’ concern the negative impact of coronavirus outbreak may be bigger-than-realized mounted against the background of increase in coronavirus infection cases outside China. The S&P 500<\/a> lost 3.4% to 3023.94. The Dow Jones <\/em> industrial average fell 3.6% to 26121.28. Nasdaq <\/a> composite index slumped 3.1% to 8738.60. The dollar weakening resumed after mixed data as the number of people applying for first time jobless benefits declined last week while factory orders declined more than expected in January: live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.8% to 96.61 and is lower currently. Futures on stock indexes point to lower openings today.<\/p>\n

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CAC 40 led European indexes reversal<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> pulled back on Thursday. EUR\/USD<\/em> joined GBP\/USD\u2019s <\/em> continued climbing yesterday with both pairs higher currently. The Stoxx Europe 600 index lost 1.4% led by basic resources and autos shares. Germany\u2019s DAX 30 <\/a> declined 1.5% to 11944.72. France\u2019s CAC 40 <\/em> slumped 1.9% while UK\u2019s FTSE 100 <\/em> fell 1.6% to 6705.43.<\/p>\n

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Asian indexes move sharply lower<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mostly lower today. Nikkei <\/em> ended down 2.8% at 20732.00 with yen advance against dollar continuing. Markets in China are falling despite reports of factories there gradually reopening: the Shanghai Composite Index <\/em> is down 1.2% while Hong Kong\u2019s Hang Seng Index <\/em> is 2.6% lower. Australia\u2019s All Ordinaries Index dropped 2.8% as Australian dollar resumed its climb against the greenback.<\/p>\n

\"AU200<\/p>\n

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Brent <\/a> slide continues<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are lower today. Prices accelerated decline yesterday despite Organization of the Petroleum Exporting Countries Conference recommendation that Friday\u2019s meeting between OPEC and its allies, collectively known as OPEC+, extend the current crude oil production curb agreement to the end of the year. May Brent crude lost 2.2% to $49.99 a barrel on Thursday.<\/p>\n

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Gold rises as Dollar resumes declining<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are extending gains today. Prices rose yesterday: April gold added 1.9% to $1674.10 an ounce on Thursday.<\/p>

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Market Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Dollar weakening resumed US stock market recovery paused on Thursday as investors’ concern the negative impact of coronavirus outbreak may be bigger-than-realized mounted against the background of increase in coronavirus infection cases outside China. The S&P 500 lost 3.4% to 3023.94. The Dow Jones industrial average fell 3.6% to 26121.28. Nasdaq composite index […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-166009","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=166009"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166009\/revisions"}],"predecessor-version":[{"id":166015,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166009\/revisions\/166015"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}