Global stock exchanges … the decline of the American, European and Chinese … and Japanese variation


Arabian Business Egypt: Global stock indexes ended the trading session today, Wednesday, with a decline in the US, European and Chinese stocks, while Japanese varied.

On Wall Street, it concluded US stock indices Trading session fell sharply, losing the “Dow Jones” industrial about 1300 points at the lowest level in 3 years amid continued fluctuations in global markets due to corona.

The Dow Jones industrial average fell by 6.3%, at the level of 19898 points, which is equivalent to a decline of approximately 1338 points, to record the lowest level since February 2017, and the “S&P” index decreased by 5.2%, at the level of 2398.1 points, and the index fell “Nasdaq” by 4.7%, at 6989 points

And US stocks continued to lose after a 15-minute trading halt as a result of the S&P falling 7%, before reducing its decline at the close.

The decline in US stocks came amid efforts by countries and financial incentives to contain the effects of the corona’s spread, especially on airlines and small companies, and in conjunction with the rise in US Treasury yields above 1%.

The administration of US President Donald Trump was seeking a $ 1 trillion fiscal package to support the economy, including direct payments to Americans and financial aid to small businesses and the aviation industry.

US Treasury Secretary Stephen Mnuchin told Republican Senators that the unemployment rate could reach 20% if Congress did not pass the proposed stimulus package of nearly $ 1 trillion.

The Senate voted in favor of passing the aid plan against the deadly virus effect of expanding paid leave.

And jumped the number of cases of HIV infection in the United States to more than 7 thousand cases, according to data from Johns Hopkins University, while the number of deaths reached 114 people.

Economic data revealed a decline in permits and startups to build homes in the United States during the past month.

And in the markets of the old continent, it concluded European stock indices Trading session fell sharply, despite the promises of Western governments to pump billions of dollars to help companies and citizens to overcome the crisis of Corona.

The “Stoxx 600” index fell by 3.9%, at the level of 279.66 points, the British index “FTSE” fell by 4.05%, at the level of 5080.5 points, and the Italian index “FTSE MIB” decreased by 1.3%, at the level of 15140.4 points, The German “DAX” index shrank by about 5.5%, at 8441.7 points, and the French “CAC” index fell by 5.9%, at the level of 3754.8 points.

The oil and gas sector fell by about 10%, with crude prices dropping to an 18-year low, to lead the losses of all sectors that fell within the red range.

Corona infection figures continue to worsen globally outside China, with a sharp increase in European countries in particular, led by Italy, Spain, Germany and France.

Most of the European countries hard hit by the Koruna outbreak are carrying out a complete closure, in the midst of efforts to control the crisis.

The UK plans to implement a stimulus package worth up to $ 400 billion to help companies weather the crisis, a move that has already been implemented by other western countries.

Today’s economic data revealed a slowdown in the inflation rate in the eurozone during the past month, as the trade balance surplus there decreased during the first month of this year.

And in Tokyo, it concluded Japanese stock indices Trading session on contrast, with the statements of the President of the Central Bank of Japan, and in light of following the latest developments of the “Corona virus”.

The Nikkei fell 1.7%, or 285 points, at 16727 points, the lowest level since September 2016, while the broader index, “Topix”, increased 0.2%, at 1270 points.

According to press reports, Japanese Prime Minister Shinzo Abe will form a committee that will include the Minister of Economy and Bank of Japan President Haruhiko Kuroda to discuss measures to support the economy, which has been affected by the repercussions caused by the outbreak of the Corona virus, according to Reuters sources.

This, “Kuroda” stated that the central bank will not hesitate to facilitate monetary policy again if the economy deteriorates due to the “Corona” outbreak, and the bank agreed at the beginning of this week to increase the frequency of its annual purchases from ETFs to 12 trillion yen annually.

And in Beijing, it concluded Chinese stock indices Trading session on the decline, coinciding with the continuation of the outbreak of the “Corona” virus globally and increased expectations of the global economic recession in the current year.

The “Shanghai Composite” index fell by 1.8%, at the level of 2728 points, the lowest level since February 2019, and the “Shenzhen Composite Index” declined by 1.6%, at the level of 1678 points.

China recorded eleven new deaths and thirteen cases, at 3.122 thousand people and 81,086 thousand people, respectively. However, the total global death toll from “Corona” virus is close to the level of eight thousand people at 7954 people.

The yuan fell 0.3% against the dollar
Arabian Business Egypt: The Chinese currency fell against its American counterpart during trading on Wednesday, and at 8:35 am GMT: 10:35 am Cairo time, the yuan fell against the dollar by about 0.3%, to 7.0222 yuan.
China recorded eleven new deaths and thirteen cases, at 3.122 thousand people and 81,086 thousand people, respectively. However, the total global death toll from “Corona” virus is close to the level of eight thousand people at 7954 people.


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