world economy
Written by: Zhang Zijie
2020-10-29 05:07
Last update date: 2020-10-29 05:17
European and American stock markets were hit hard on October 28, and the number of confirmed cases of the new coronavirus (COVID-19) continued to increase sharply. Investors were worried that the epidemic would hit the economy and drag down the performance of stock markets.
The U.S. stock market had already fallen as soon as the market opened. The Dow plunged 500 points, and then the decline expanded to more than 800 points. Finally, the three major indexes closed down by more than 3%.
The Dow fell for 4 consecutive trading days, its worst performance since February, reporting 26520.97 points, down 942.22 points, or 3.43%; the Nasdaq reported 1,1004.87 points, down 426.48 points, or 3.73%; the S&P 500 index reported 3271.03 points. It fell 119.65 points, or 3.53%, and it also set the worst one-day performance since June 11 along with the Dow.
Many stocks that rely on economic reopening became the hardest hit areas. United Airlines closed down 4.59%. Cruise stocks including Royal Caribbean, Norwegian Cruise Line and Carnival fell more than 7%, among which Carnival’s share price fell sharply by 10.6%.
The VIX index, which reflects market panic, soared 20%, rising to 40, a new high since June 15.
European stock markets were also affected by the epidemic, causing the local stock market to fall across the board. The British FTSE index closed at 5,582.80 points, down 2.55%; the French CAC index closed at 4571.12 points, down 3.37%; German Chancellor Angela Merkel announced November Since the city was closed for 4 weeks on the 2nd, the DAX index hit 4.17% to 11560.51 points.
US stocks｜Continuous update of the epidemic haze over Wall Street's three major indexes closed down 3%
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