After suffering sharp coronavirus-related losses earlier in the week, U.S. stocks soared on Friday and got an extra lift late in the session from President Trump's declaration of a national emergency. On Thursday, U.S. stock indexes suffered their biggest one-day drop since 1987’s Black Monday crash, and closed deep in bear market territory. Friday's big gains couldn't reverse all the damage from previous sessions. For the week, the S&P 500 was down 8.8%, the Nasdaq Composite was 8.2% lower, and the Dow Jones Industrial Average fell 10.4%.
President Donald Trump has declared a national emergency under the Stafford Act, a move that will free up greater federal resources for states and cities battling the coronavirus.
The World Health Organization on Wednesday declared the Covid-19 coronavirus outbreak a pandemic. The virus had infected more than 120,000 people and spread to more than 100 countries at the time of the announcement.
Oil futures plunged to a four-year low Monday and recorded their biggest one-day drop since 1991 as OPEC and Russia appear headed for an all-out price war—shaking a market already reeling from the demand shock created by global spread of Covid-19.
Whats next? Maybe we will see a short uptrend move towards 0,3882 Fibonacci Level. There is also a resistance trend line there. If the indeces fall below 7255.62 (Nasdaq 100), more downside move will appear.
President Donald Trump has declared a national emergency under the Stafford Act, a move that will free up greater federal resources for states and cities battling the coronavirus.
The World Health Organization on Wednesday declared the Covid-19 coronavirus outbreak a pandemic. The virus had infected more than 120,000 people and spread to more than 100 countries at the time of the announcement.
Oil futures plunged to a four-year low Monday and recorded their biggest one-day drop since 1991 as OPEC and Russia appear headed for an all-out price war—shaking a market already reeling from the demand shock created by global spread of Covid-19.
Whats next? Maybe we will see a short uptrend move towards 0,3882 Fibonacci Level. There is also a resistance trend line there. If the indeces fall below 7255.62 (Nasdaq 100), more downside move will appear.