⁍ World stocks and commodity markets fell again on Thursday.
⁍ A return to national lockdowns in some of the Europe’s biggest economies triggered the worst global selloff in months.
⁍ Concerns hit commodities and the euro, too, with oil falling 5% to its lowest since June.
– The Dow fell more than 300 points on Wednesday, its biggest single-day point drop since August, and it was down even more on Thursday morning. The S&P 500 and Nasdaq also were down more than 2% each in the first minutes of trading, reports the Wall Street Journal. The sell-off was sparked by fears of a looming rate hike from the Federal Reserve, as well as a sell-off in oil and other commodities, reports Reuters. The Dow fell 313 points on Wednesday, while the S&P 500 and Nasdaq lost similar amounts. The sell-off was sparked by fears of a looming rate hike from the Federal Reserve, as well as a sell-off in oil and other commodities, as well as a return to national lockdowns in some of the Europe’s biggest economies. French President Emmanuel Macron and German Chancellor Angela Merkel have ordered their countries back into coronavirus lockdowns, while cases are rising in 47 US states with patients overwhelming hospitals in parts of the country. “What I think has changed in the last few days is the significant spikes in the virus in Europe and the US, especially the US,” says Kempen Capital Management’s head of investment strategy. “The W-shaped scenario for the economy has now become consensus in the market” rather than “one where economies broadly stabilise.”
Source: https://www.reuters.com/article/global-markets/global-markets-lockdown-blues-shove-stocks-oil-back-into-the-red-idUSL1N2HK1SY