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Coronavirus Crisis: Dow Jones Shoots Up - Biggest Daily Gain in Almost 90 Years

2020-03-24T20:54:52.040Z


The pandemic of the novel corona virus is having a massive impact on the stock markets. The Dax went down again on Monday - the Dow Jones, on the other hand, surprised.


The pandemic of the novel corona virus is having a massive impact on the stock markets. The Dax went down again on Monday - the Dow Jones, on the other hand, surprised.

  • The corona virus pandemic is putting massive pressure on the international economy.
  • The stock exchanges react nervously.
  • Various measures in Europe are easing the tension.

March 24 update : It is the biggest rise for the US leading index in one day in almost 90 years : The Dow Jones made up for the heavy losses of an entire trading week in one day and made the strongest daily profit since 1933 . On New York's Wall Street , the stock market barometer gained around 11.4 percent on Tuesday and rose to around 20,705 points .

Confident statements from US senators boosted the prospect of a massive stimulus package to tackle the consequences of the coronavirus crisis . According to media reports, at least $ 1.5 trillion will be pumped into the economy.

Corona virus crisis: new setback for the Dax - stock market already on the downhill

Update of March 23, 12:15 p.m .: The high level of uncertainty surrounding the coronavirus pandemic sent the German stock market down again on Monday. The two-day attempt to stabilize before the weekend has now passed. Party political quarrels in the USA are currently particularly worrying for investors. The Dax slipped 2.99 percent to 8661.76 points by midday, reducing losses slightly since the start of trading.

Since the virus panic sent stock exchanges around the world four weeks ago, the leading German index has soon lost 40 percent. His record high of just under 13,800 points reached in February is now a long way off.

Corona: heading for relaxation - Europe's stock markets are increasing

Update from March 20, 2:18 p.m .: The European stock exchanges increased significantly on Friday. The stabilization approaches on the previous day thus widened to a recovery after the heavy losses of the previous week. Emergency measures by the European Central Bank (ECB) had calmed the markets somewhat on Thursday. Profits in the USA and Asia now provided the necessary preconditions for a countermovement. The Eurozone leading index EuroStoxx 50 advanced by 5.52 percent to 2389.45 points.

Market strategist Neil Wilson from Safecap investments spoke of the first positive signals in a comment. "The full extent of the economic impact is still unknown, but the markets are looking away from the current situation and are already pricing in 2021 to 2022," said Wilson. The uncertainty remains high, which is also reflected in the strong fluctuations.

The major European stock exchanges also went up. The French Cac 40 last rose 6.02 percent to 4087.61 points, while the London FTSE 100 climbed 2.93 percent to 5303.07 points.

The relaxation was also documented by the fact that the Stoxx 600 Travel & Leisure climbed the most, which suffered most from the effects of the Corona crisis. But other of the most recently shaken sectors such as the construction sector and oil values ​​were also sought. The latter naturally benefited from the recovery in the oil price.

An expert speaks of the Corona crisis as the "greatest economic shock of the 21st century".

Corona virus in business: US stock market plummets - ECB surprises with emergency program

Update of March 19, 9:32 p.m .: After the latest series of losses, the US stock markets reported back on Thursday with a gentle stabilization. However, the tense situation caused by the corona pandemic continues to prevent sustainable recovery. The leading index Dow Jones Industrial closed 0.95 percent firmer at 20 087.19 points. In early trading, the leading US index had dropped by more than 3.5 percent, but then also rose by up to 2.7 percent

3:27 pm: On Thursday, the US stock markets also started to reverse. The tense situation caused by the corona pandemic continues to prevent sustainable recovery. The leading Dow Jones Industrial index recently lost 3.17 percent to 19,268.01 points after having lost more than 6 percent on Wednesday.

The market-wide S&P 500 last fell 2.79 percent on Thursday to 2331.12 points. The technology-heavy Nasdaq 100 dropped 1.28 percent to 7083.36 points.

Stock market slump due to Corona: Wall Street has drastic consequences - central banks start emergency purchase program

Update from March 19, 11:31: From next Monday, the New York Stock Exchange will only be traded electronically. There is a precautionary step. There should not be any technical difficulties: one was completely prepared to only trade electronically. Two confirmed corona infections had previously been reported on Wall Street .

During the night of Thursday, the European Central Bank (ECB) and the Japanese central bank announced an emergency buying program for government and corporate bonds. The ECB's emergency purchase program will total 750 billion euros. At the same time, oil prices stopped their downward slide - a barrel of Brent from North Sea at $ 26.29 was again $ 1.41 more than the previous day.

According to analysts, recent developments cannot yet be seen as stabilization. While defensive stocks from the food sector are in demand, the travel sector was again among the losers.

Update of March 18, 3:04 pm: After a brief recovery, disillusionment follows on the US stock markets. On Wednesday afternoon, too, the trade switched back to crash mode. The leading index of the Dow Jones Industrial fell below the 20,000 point mark immediately after the start of trading. Most recently, it was 5.72 percent lower at 20,022.08 points after having risen by around 5.2 percent on Tuesday.

The market-wide S&P 500 recently lost 5.49 percent to 2390.25 points. The technology-heavy Nasdaq 100 dropped 4.55 percent to 7134.11 points.

The number of infected people is increasing worldwide, when will the long-awaited vaccine follow? Researchers could soon make their breakthrough.

Coronavirus pandemic: fast help for the economy is required

Update of March 18: Yesterday, Tuesday, both the leading German index DAX and the US stock market index Dow Jones showed some recovery after Monday's slump. The Dow Jones again reached a score of 21,237.31 points, closing with an increase of 5.19 percent. The downward trend was especially for airlines. In contrast, Amazon's stock rose by seven percent - the online retailer had announced that it would create 100,000 new jobs due to the increased demand.

Meanwhile, there is worse news from the German stock index DAX on Wednesday: After the DAX also recovered somewhat yesterday, it sinks in the morning by a good five percent to 8479.55 points.

The economy needs quick help - unlike in the financial crisis, an ARD comment demands.

First report from March 17th, 2020: New York - The fear of the massive spread of the coronavirus * is increasing. More and more cases are being reported worldwide. In the USA, too, where extensive testing has only recently begun, there is an exponential increase in infections. And this term is understood on the stock exchange, where you would like to see exponential increases - just prefer the value of the trading positions. The pandemic can obviously only be flattened with drastic restrictions in public space. Should this not be possible, the health system could be dramatically overloaded.

Coronavirus pandemic: worst stock market losses since 1987

The economic consequences of dissemination and preventive measures can hardly be predicted in their entirety - but it is already clear that countless companies are already losing millions. And that has dramatic consequences for the financial market and stock trading. Uncertainty caused the worst losses on US stock markets on Monday since “black Monday” in 1987.

Coronavirus pandemic is affecting the US stock exchange

The Dow Jones Industrial closed at almost 3000 points, or 12.93 percent, at 20,188.52 points. The US leading index ended at its lowest level in more than two years. The Dow had risen by a good nine percent on Friday, but still had a loss of more than ten percent on a weekly basis.

The market-wide S&P 500 lost 11.98 percent on Monday to 2386.13 points. The technology-heavy Nasdaq 100 was down 12.19 percent to 7020.38 points.

The statements of the US President Donald Trump led to further uncertainty. On Monday, he expressed concern that the US economy could slide into recession. He called on all Americans to avoid unnecessary trips and visits to bars and restaurants and to avoid the accumulation of more than ten people in the fight against the spread of the corona virus in the next two weeks.

US Stock Exchange: Another panic reaction - Dow loses 13 percent

At the weekend, the US Federal Reserve surprisingly reduced the key interest rate to almost zero percent and announced a package of measures in coordination with other central banks. However, this measure, intended to calm the markets, completely failed to take effect. Markets.com analyst Neil Wilson spoke of a remarkable move by the Fed, but at the same time emphasized that the global economy is coming to a standstill. The currency keepers also lack the necessary antidote.

Financial stocks in particular were under pressure. The papers of the banks JPMorgan and Goldman Sachs listed in the Dow sagged by up to 15 percent. A low interest rate environment makes everyday business with loans, for example, less attractive.

Bottom in the Dow were Boeing shares, which fell almost 24 percent to their lowest level since September 2016. Since the start of free fall three weeks ago, the value of the paper has decreased by almost two thirds. The new type of corona virus places a particularly heavy burden on worldwide air traffic and thus on the continued demand for Boeing aircraft.

US stock exchange / Corona crisis: Airline stocks under pressure

Airline shares were also under corresponding pressure. Delta Air Lines and United Airlines papers lost up to 15 percent. They even made up some of the losses after US President Trump assured that he wanted to "100 percent" support the airlines.

Apple's shares went under 13 percent. The iPhone maker had announced it would close its 460 in-house stores outside of China for two weeks due to the spread of coronavirus. They want to help slow the disease, said CEO Tim Cook on Saturday. In addition, Apple was fined a good 1.1 billion euros by the French competition authority for what they considered to be illegal distribution agreements.

Against the trend, Clorox papers rose 4 percent. Because of the virus pandemic, the manufacturer of disinfection solutions is currently benefiting from high demand for its products.

The spread of the virus also has massive consequences for the German economy. Car manufacturers close their factories in rows.

dpa / nai

* Merkur.de is part of the nationwide Ippen-Digital editors network.

List of rubric lists: © AFP / ANGELA WEISS

Source: merkur

All news articles on 2020-03-24

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