{"id":166428,"date":"2020-03-13T06:36:33","date_gmt":"2020-03-13T10:36:33","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166428"},"modified":"2020-03-13T06:36:18","modified_gmt":"2020-03-13T10:36:18","slug":"futures-recover-after-sp500-nasdaq-join-dow-in-bear-territory","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/futures-recover-after-sp500-nasdaq-join-dow-in-bear-territory\/","title":{"rendered":"Futures recover after SP500, Nasdaq join Dow in bear territory"},"content":{"rendered":"
March 13, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP5500, Nasdaq join Dow in bear market<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> plunge accelerated on Thursday despite President Trump\u2019s promise of financial relief \u201cfor workers who are ill, quarantined or caring for others due to coronavirus,\u201d emergency low-interest loans from Small Business Administration to affected businesses, and deferred tax payments for certain individuals and companies for three months. The S&P 500<\/a> lost 9.5% to 2480.64. The Dow Jones <\/em> industrial average sank 9.98% to 21200.62. Nasdaq <\/a> composite index tumbled 9.4% to 7201.80. Both SP 500 and Nasdaq Composite joined the Dow in bear market territory, defined as a decline of at least 20% from their recent record intraday maximums. The dollar strengthening accelerated as the Federal Reserve offered some $1.5 trillion worth of funding and announced about purchases of US Treasury notes and bonds to increase its balance sheet: 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 0.9% to 97.50 but is lower currently. Futures on stock indexes are up.<\/p>\n

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European indexes\u2019 plunge deepened after ECB decision of no rate cut<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> drop accelerated on Thursday after European Central Bank decided not to cut interest rates. ECB\u2019s announcement of new measures to support bank lending, including expansion of its quantitative easing (QE) program by 120 billion euros ($135.28 billion), wasn\u2019t sufficient to stem selling pressure . Both EUR\/USD<\/em> and GBP\/USD <\/em> accelerated their declines yesterday with both pairs higher currently. The Stoxx Europe 600 index lost 11% led by travel and leisure shares. Germany\u2019s DAX 30 <\/a> slumped 12.24% to 9161.13. France\u2019s CAC 40 <\/em> tumbled 12.28% while UK\u2019s FTSE 100 <\/em> fell 10.87% to 5237.48.<\/p>\n

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Australia\u2019s All Ordinaries Index rebounds while Asian indexes fall<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mostly lower today after steepest losses on Wall Street since the Black Monday crash of 1987. Nikkei <\/em> ended down 6.1% at 17431.05 despite continued yen decline against the dollar. Markets in China are falling: the Shanghai Composite Index <\/em> is down 1.2% and Hong Kong\u2019s Hang Seng Index <\/em> is 1.2% lower. Australia\u2019s All Ordinaries Index however rebounded 4.4% with Australian dollar little changed against the greenback.<\/p>\n

\"AU200<\/p>\n

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Brent <\/a> rebounds<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are recovering today. Prices accelerated declines yesterday : May Brent crude lost 7.2% to $33.22 a barrel on Thursday.<\/p>\n

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Gold gains as Dollar slips<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are edging higher today. Prices fell sharply yesterday: spot gold fell 3.0% to $1589.3 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 SP5500, Nasdaq join Dow in bear market US stock market plunge accelerated on Thursday despite President Trump\u2019s promise of financial relief \u201cfor workers who are ill, quarantined or caring for others due to coronavirus,\u201d emergency low-interest loans from Small Business Administration to affected businesses, and deferred tax payments for certain individuals and companies […]<\/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-166428","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166428","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=166428"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166428\/revisions"}],"predecessor-version":[{"id":166431,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166428\/revisions\/166431"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}