The coronavirus (COVID-19) epidemic continues to impact global financial markets. This blog post aims to keep the eToro community updated on the most recent developments. For more information on how to prepare for market volatility, please refer to this blog post.
Recent updates (last updated on 9/3/2020, 12:46 GMT)
- Please note that there may be a delay in US markets opening.
- Oil suffered an extreme drop, falling more than 20%. The drop is the result of non-OPEC members not agreeing to OPEC’s proposed production cut, resulting in Saudi Arabia slashing crude oil prices, sparking fears of an all-out price war.
- Europe tumbled at the open. The UK100, GER30 and FRA40 all fell more than 5% on the back of the drop in oil prices and coronavirus fears. Italy, which has the highest number of infected individuals and fatalities, dropped more than 10%.
- Futures point to further drops when Wall Street opens. The DJ30 index is predicted to drop 1,300 points. This is a significant market gap that may also affect individual stocks.