Dow, S&P, Nasdaq all drop more than 4% in largest one-day point declines on record!
Major stocks around the world suffered another round of considerable losses and uncertainty over the impact of the coronavirus in the markets. The Dow Jones fell by 1,100 points on Thursday and along with the S&P 500 and Nasdaq suffered the fastest correction in history.
The same impact has been seen in the currency markets, with the USD/JPY remaining at a three-week low near 108.90 while the Asian stocks and Treasury yields also slumped. Also, the AUD/USD sell-off continues and hits lowest since March 2009. The 11-year low and nears 0.6500 amid broad risk-aversion due to the fears the coronavirus pandemic will result in a marked slowdown in the global economy.
In the meantime, the Asian stocks have lost value as a result, and risk has been aggressively sold this week due to the fears of the coronavirus pandemic.
Moving forwards, it looks like the risk sell off will continue, which means Gold will remain in demand as a risk safe-haven.
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