5 Important Incident You Should Know in the Markets on Friday

5 Important Incident You Should Know in the Markets on Friday

The number of cases detected in South Korea and Iran has increased again and coronavirus continues to spread worldwide. Sub-Saharan Africa also confirmed its first case. With the panic of Wall Street on Thursday, Asian and European markets were experiencing great decreases, while Brent saw $ 50 gold. Bundesbank accepts its possible coup against the German economy. The Turkish lira and the Russian ruble are weakened as countries are approaching direct conflict in Syria. Besides, there are US household income data to be published. Here's what you should know in the financial markets on Friday, February 28:

1. Coronavirus triggers emergency sanctions worldwide

The coronavirus outbreak has spread worldwide, leading to heavy sales in the stock market and commodity markets. While South Korea reported the biggest exposure outside of China, 571 new cases were reported, Iran, which was slow to apply travel and activity restrictions, reported 143 more. The virus has reached sub-Saharan Africa with the first case report of Nigeria. While the Japanese island of Hokkaydo is declaring an emergency, quarantine and school closings are increasing in Germany. On the other hand, neighboring Switzerland banned public events with over 1,000 exhibitors - meaning the Genoa Auto Show was banned.

2. Ongoing panic sales in global markets are settling

With a heavy decline in panic risk assets in the financial markets, it showed signs of temporary settlements before the flock to the safe ports. While Asian stocks saw huge decreases, Europe continues to be traded at 2.2-3.2%, even though it is higher than today's lows. Brent saw three years fall before crude oil went above $ 50. The biggest airline groups in Europe issued a profit warning. 10-year US Treasury yield fell to a record level of 1.17% before returning to 1.19%. Gold futures returned some of his recent earnings.

3. Although the US stock markets will open low, they moved away from the lows of last night

US markets are preparing to expand their losses at the opening. While many indicators indicate that the markets are over-selling in the short term, some participants hope that there will be a recovery over the weekend. Dow fell 217 points to 25,334. S&P 500 and Nasdaq 100 fell 0.8%. According to the Wall Street Journal, Cisco Systems (NASDAQ: CSCO), which is planning another round of temporary layoffs due to 'global economic uncertainty', may attract attention. coinbase routinewealth. There are personal consumption expenditures and personal income data on the data front.

4. Bundesbank predicts that the virus will hit the German economy

According to Bundesbank President Jens Weidmann, the German economy may grow slower than expected this year due to coronavirus. “When it turns into an epidemic in Germany… we expect to see its direct economic effects. However, there is no need for urgent action from the European Central Bank (ECB). ” The markets are not convinced: they are priced with the possibility that the ECB will cut the deposit interest by 10 points on the weaker inflation figures announced this morning from France and Italy. On the other hand, Germany recorded a surprise drop of 10,000 in seasonally adjusted unemployment.

5. Turkey and challenge each other while studying in Russia and the ruble is weakening Syrian Pound

After the two countries approached a direct conflict in Syria, mame incest the country's money weakened. While the rubles fell to the lowest level it has seen since January 2019 with 67.23 points against the dollar, the lira was traded at the low level of 6.26 to nine months. Both have suffered from the general defeat of high-yielding currencies since the outbreak of coronavirus. On Thursday, 33 Turkish soldiers were martyred in the Idlib region during an airstrike, which is said to be due to the Russian air force cruising in the Syrian skies. Russia is helping President Beshir El Assad forces to destroy the last resistance front against his rule.