MoneyNews

US market survives one of the worst days in history

UNITED STATES (OBSERVATORY NEWS) — The American stock market has experienced one of the worst falls in history. During the day, major indexes crashed by more than 3.5%, while the shares of giants like Google, Apple, Microsoft and Amazon fell by almost 5%.

By the way, in absolute terms, the fall in the high-tech Nasdaq index has become the largest ever recorded. The reason remains unchanged – the coronavirus epidemic is spreading and threatening the global economy.

US market survives one of the worst days in history
File Reuters

Nevertheless, despite the fact that the global stock market survived one of the worst days in the last decade, US President Donald Trump began to reassure investors and tweeted that the situation with coronavirus is under control and the stock market seems attractive for him to buy. at current levels.

“The coronavirus is largely controlled in the United States. We are in contact with all countries. The US Federal Centers for Disease Control and Prevention and the World Health Organization are working hard. The stock market is starting to seem very attractive to me,” the president wrote in his microblog.

The irony is that the last time he wrote something similar at the end of 2018, and then real panic reigned on the stock exchanges. But in the end, Trump’s call turned out to be true and the value of assets has grown significantly.

Ex-President Obama gave even more valuable advice to investors. Almost at the very height of the crisis of 2009, he also urged everyone to buy cheaper papers, since then they have been growing almost continuously for more than 10 years.

Despite the holiday, Russian assets also came under a wave of sales.

Depositary receipts of some Russian companies for the day fell by more than 5%, and the ruble at over-the-counter trading lost about 2%. Only receipts of gold mining companies – Polyus Gold and Polymetal – have been established.

This is due to the updating of prices for precious metals of their multi-year highs. Today, the Moscow Exchange will resume its work, and traders from Russia will win back all the negative Monday.

Online:

This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

Contact us: [email protected]

Stay connected with Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.