Inventory Futures Plummet on Europe Journey Ban

For the second time this week, fairness index futures have been locked restrict down quickly this morning as markets absorbed Trump’s announcement of a complete journey ban from Europe to the US.

Markets tumbled yesterday after the World Well being Group declared the Covid-19 coronavirus a worldwide pandemic. In an effort to comprise the unfold of the virus, President Trump issued a 30-day journey ban from Europe to the US, excluding the UK.

As acknowledged by the White Home, the ban “solely applies to human beings, not items and cargo.” Nonetheless, European shares plunged to the bottom ranges since June 2016 on the information.

In a single month, US fairness index futures have erased all of 2019’s positive factors and Dow futures at present commerce at ranges not seen since December of 2018. This morning markets have been halted for 2 hours after triggering the draw back 5% lock restrict. The lock restrict has since been lifted.

Oil futures additionally prolonged declines as a consequence of an ongoing value conflict between Saudi Arabia and Russia. Final week, an OPEC manufacturing lower settlement was cancelled as talks between the 2 nations broke down.

Market Snapshot

Micro E-mini Dow Futures (MYM) -7.81%
Micro E-mini S&P 500 Futures (MES) -6.71%
Micro E-mini Nasdaq Futures (MNQ) -5.92%
WTI Crude Oil Futures (CL) -5.76%

Pictured above is at this time’s buying and selling exercise for Micro E-mini Dow Futures. Wanting on the Quantity Profile, a lot of the buying and selling occurred previous to the halt indicated in yellow.

Bear Market Sign

The Dow Jones Industrial Common has now fallen greater than 20% from its all time excessive on February 12th which many analysts agree signifies the beginning of a bear market. If that is certainly the case, it marks the top of an 11-year bull market.

Merchants ought to all the time concentrate on the dangers concerned in buying and selling unpredictable and unstable markets. Threat administration methods ought to be employed every time doable to reduce potential losses.

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