Corona Virus effect: World’s major stock markets turned bear !

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World's major stock markets turned bear !
COVID-19 (WHO)

Major stock markets turned negative due to fear of Corona virus on global growth.Oxford economic in its forecast had said, In 2020 global growth will slow to just 2.3%, its weakest since 2009 . World health organisation had alarmed Novel Corona virus COVID -19 outbreak as Pandemic. World Health Organisation (WHO) defines pandemic as a worldwide spread of a new disease.

COVID -19 have already affected more than 1 lakh people.Although recent data suggest its growth is slowing down in China .Corona virus cases had erupted in Wuhan ,China in December last year. Recent WHO data suggest 1,24,847 confirmed cases of COVID-19 span over 118 countries /areas or territories.

World’s major stock market turned bear and are witnessing sharp drop in last couple of days and have turned bear.Bear markets are defined as more than 20% decline in stock prices from near-term highs.

Sr No.IndexLow 1 Month Percentage change
1Dow Jones21,297.88– 26.60
2S & P2,500.65– 25.66
3NASDAQ7279.95– 24.29
4NIKKEI 22518,342.7– 21.64
5FTSE 1005243.2– 29.42
6CAC4,025.89– 32.47
7DAX9139.12– 32.08
World’s Major Stock Indices

Surprisingly China’s Shanghai Composite have given 1 month positive return at 0.75% and negative return of only – 2.93% for week.

In todays trade, major European market crashed more than 10 percent in response to announcement of suspension of travel from Europe to contain Corona virus by U.S. President Donald Trump. All major US indices are also trading more than 8 percent down.

NIFTY and SENSEX both suffered huge losses in today’s trade due to fear of rising cases of Corona virus in India and weak global clues. NIFTY closed day at 9590.15  with drop of 868.25  points (-8.30%), while SENSEX closed 2919.26 points down at 32778.14 (-8.18%). Index heavyweight like HDFC,HDFC Bank, Reliance industry and ICICI bank contributed most to today’s SENSEX fall.

3 COMMENTS

  1. […] Bitcoin had suffered steep losses on 12 and 13 March due to fear caused by Corona pandemic in global economies. Recent data showed 142,649 Corona infected cases have been detected across the globe till now. On 12 ,it had reached a high of $ 7982.28 and reached a low of $ 4242.98 on 13 March. It means it eroded 46.84 percent price in just two days.On 12 and 13 march world’s major stock indices also saw increased volatility causing erosion of stock prices. […]

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