Major indices move to the downside
The European markets are close for the day and the provisional closes are lower after earlier gains were erased.
The provisional closes are showing:
- German DAX, -0.6%. The high change for the day reached +2.73%
- France's CAC, -0.7%. The high change for the day reached +2.79%
- UK's FTSE 100, -1.6%. The high change for the day reached +2.15%
- Spain's Ibex, -0.3%. The high change for the day reached +3.43%
- Italy's FTSE MIB is trading up 0.3%. The high change for the day reached +3.02%
In other markets as London/European traders look to exit
- Spot gold is trading down $1.72 or -0.10% at $1647.80. The precious metal is trading near the lows for the day at $1644.31. The flight to safety bid seen earlier has disappeared. The high price today reached $1671.31
- WTI crude oil futures remain near down $1 on the day or -3.11%. The price is currently trading at $33.30
In the US stock market, the major indices are trading near low levels. The WHO characterized the coronavirus as being a pandemic. That has weekend the stock prices recently:
- S&P index -119 points or -4.14% at 2762.23
- NASDAQ index -326 points or -3.92% 8016
- Dow industrial average -1200 points or -4.8% at 23808
In the US debt market, yields have moved higher off the lows. The US treasury will auction off 10 year notes at the top of the hour. Perhaps, the dealers are not seeing good demand for the auction at these levels.
In the forex market, the JPY is the strongest, and the GBP is the weakest.
