U.S. and European stock exchanges operate in 'whipsaw' regime

Source : 112 Ukraine

The market moves chaotically up and down
16:03, 14 March 2020
U.S. stock exchanges opened up after falling almost 10% the day before. This was reported by Economic Truth, referring to bidding data.

The Dow Jones Index rose immediately by 1062.26 points (+ 5.01%) to 22,262.88 points.

S&P 500 also grew - by 5.55% to 9192.07 points. The NASDAQ index, which fell 9.43% by the close on March 12, rose 5.37% to 7,588.7 points at the opening of trading.

By 20:50 Kyiv time, the growth of indices slowed down to 2.9% -3.3%.

Stock indices in Western Europe have shown maximum growth since November 2008 during the March 13 session.

The composite index of the largest Stoxx Europe 600 region rose by more than 7%, partially recovering from the losses suffered the day before and stepping back from the minimum since 2013.

Growth is observed in all industry groups, while the leaders were shares of commodity companies.

In trading, a “whipsaw" refers to such a course of trading when the market moves chaotically up and down.
On March 9, immediately after the opening, trading on the New York Stock Exchange was suspended for 15 minutes after stock prices collapsed, DW reported.

This happened for the first time after the financial crisis of 2008-2009, investors have already called this day "Black Monday."

The S&P 500 index of the largest American companies fell immediately by 7 percent. Dow Jones fell 7.2%, the Nasdaq technology index lost more than 7 percent.

American sites picked up a downward trend, exacerbated on Monday at Asian and European auctions after a sharp drop in oil prices. The stocks of oil giants suffered the most. In the USA, these are Chevron and Exxon Mobil, which lost almost 10% at the opening. Energy Index Collapses 20%

The International Monetary Fund has called for international coordination to counter the economic impact of coronavirus. The Federal Reserve Bank of New York announced an increase in daily injections of cash into the financial markets by $ 50-150 billion to increase market liquidity.

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