Downturn sees markets on track for worst week since 2008

The impact of Coronavirus has been seen globally and with another European town under quarantine, today’s markets have faced massive downturns. Overall, the markets are on track for their worst week since 2008, the height of the financial crisis. Here are the headlines we’re seeing:

Insights > Downturn sees markets on track for worst week since 2008

admin
November 19, 2020

The dollar is down and commodities are slumping.
European and American markets are down 10% from their recent highs and may be put into correction.
The S&P experience its fastest correction ever.
Germany’s DAX is down 5% – its worst day since 2016.
Goldman Sachs project zero earnings growth for US companies and Citi have extended this to global companies.
Investors are calculating the odds at 72% for a Fed interest rate cut at the upcoming March meeting. They were just 9% a week ago.

Gloomy reading for a Friday afternoon. Following on from the CBI’s January report of an upturn in business confidence, it is anyone’s guess where this year will lead.

Read the full rundown of today’s market on the Fortune Bullsheet.

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