Daily Markets: Markets Feverish Again Over Contagion Fears
Yesterday US investors were surprised to see the market suddenly drop around midday, the Dow falling almost 400 points at one point, with no one clear, obvious catalyst. The suspected culprit was a report of new coronavirus cases at a Beijing hospital combined with other reports of the outbreak accelerating outside of China.
The coronavirus is once again front and center for investors today with stocks in Asia closing mostly in the red except for the major Chinese indices on word that the return to work is accelerating in the major foreign trade provides. The Shenzhen Composite gained 1.1% and the Shanghai Composite 0.3%. South Korea, on the other hand, saw its Kospi drop 1.5% after reporting the first confirmed death in the country from COVID-19 on top of having the highest number of people infected with the virus outside of mainland China.
The major European indices were all in the red…
Disclosures
- Coca-Cola (KO) is a constituent in Tematica Research’s Thematic Dividend All-Stars Index.
- Lululemon (LULU) and Sprouts Farmers Market (SFM) are constituents in Tematica Research’s Cleaner Living Index.
