{"id":166335,"date":"2020-03-12T06:00:26","date_gmt":"2020-03-12T10:00:26","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166335"},"modified":"2020-03-12T05:42:38","modified_gmt":"2020-03-12T09:42:38","slug":"futures-sink-after-trump-bans-travel-in-europe","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/futures-sink-after-trump-bans-travel-in-europe\/","title":{"rendered":"Futures sink after Trump bans travel in Europe"},"content":{"rendered":"
March 12, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow in bear market as WHO designates coronavirus outbreak a pandemic<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> plunge renewed on Wednesday after the World Health Organization designated the global spread of coronavirus as pandemic. The S&P 500<\/a> fell 4.9% to 2741.38. The Dow Jones <\/em> industrial average plummeted 5.85% to 23553.22 closing in a bear market, defined as a drop of at least 20% from a record intraday peak. Nasdaq <\/em> slumped 4.88% to 7952.05. The dollar strengthening slowed as the consumer inflation annual rate slipped to 2.3% from 2.5% in January. The 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, rose 0.4% to 96.66 but is lower currently. Futures on stock indexes are down after President Trump announced he would restrict travel between US and Europe for 30 days to fight the coronavirus outbreak.<\/p>\n

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FTSE 100 led European indexes retreat after Bank Of England rate cut<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> pulled back on Wednesday erasing earlier gains. Both EUR\/USD <\/em> and GBP\/USD <\/em> slowed their declines yesterday with both pairs higher currently. The Stoxx Europe 600 ended down 0.7% led by travel shares. Germany\u2019s DAX 30 <\/em> slid 0.4% to 10438.68. France\u2019s CAC 40<\/em> lost 0.6% while UK\u2019s FTSE 100 <\/em> fell 1.4% to 5876.52 as Bank of England cut its main interest rate from 0.75% to 0.25% and announced new financing program to support small and medium-sized businesses, along with measures to help commercial banks boost lending. Furthermore, UK finance minister announced fiscal stimulus measures valued at around \u00a330 billion ($39 billion). European stock indexes are down currently ahead of European Central Bank policy meeting today following ECB President Lagarde\u2019s comment Tuesday Europe would \u201csee a scenario that would remind many of us of the 2008 Great Financial Crisis\u201d unless European authorities took coordinated action.<\/p>\n

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Asian indexes slump led by Australia\u2019s All Ordinaries Index<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are sharply lower today tracking changes on Wall Street overnight. Nikkei <\/em> tumbled 4.6% to 18530.5 as yen accelerated its climbing against the dollar. Markets in China are falling: Shanghai Composite Index <\/em> is 1.5% lower while Hong Kong\u2019s Hang Seng Index <\/em> is down 4.1%. Australia\u2019s All Ordinaries Index plunged 7.4% despite Australian dollar\u2019s continuing slide against the greenback.<\/p>\n

\"HK50<\/p>\n

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Brent <\/a> down after US stockpile build<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are extending losses today. Prices fell yesterday after the Energy Information Administration report US crude oil inventories rose by bigger than expected 7.7 million barrels last week, seventh weekly rise in a row: May Brent added fell 3.8% to $35.79 on Wednesday.<\/p>\n

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Gold edges up as Dollar slips<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are lower today. The spot price of an ounce of gold slipped 0.9% to $1643 an ounce on Wednesday.<\/p>

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Market Analysis provided by <\/strong>IFCMarkets<\/strong><\/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 Dow in bear market as WHO designates coronavirus outbreak a pandemic US stock market plunge renewed on Wednesday after the World Health Organization designated the global spread of coronavirus as pandemic. The S&P 500 fell 4.9% to 2741.38. The Dow Jones industrial average plummeted 5.85% to 23553.22 closing in a bear market, defined […]<\/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-166335","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166335","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=166335"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166335\/revisions"}],"predecessor-version":[{"id":166342,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166335\/revisions\/166342"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}