Markets were mixed on Friday.
The STOXX Europe 600 jumped 1.8 percent and the Shanghai Composite rose 1.6 percent.
However, the S&P 500 plunged 4.3 percent as the number of confirmed COVID-19 cases in the US rose to more than 14,000 with over 200 deaths.
Oil prices plunged. West Texas Intermediate sank 11.1 percent and Brent fell 5.2 percent.
“We think that it is too early to say with any degree of certainty that markets have found a bottom, to be honest. We remain of the view that markets will only stabilize when there are signs that the pandemic is being brought under control,” said Simona Gambarini, markets economist at Capital Economics in London.
There is no sign that the pandemic is being brought under control, at least in Europe.
Italy on Friday announced 5,986 new cases and a record 627 new deaths, raising the totals to 47,021 infections and 4,032 fatalities. Italy's death toll from the coronavirus had overtaken China's on Thursday.
In Spain, the death toll rose to 1,002, a highest-ever increase of 235 in 24 hours.
No comments:
Post a Comment