|Day's range||26,997.62 - 28,149.20|
|52-week range||24,680.57 - 29,568.57|
Top news and what to watch in the markets on Wednesday, February 26, 2020.
World stocks tumbled for the fifth straight day on Wednesday, while safe-haven gold rose back towards seven-year highs and U.S. bond yields held near record lows after governments and health authorities warned of a possible coronavirus pandemic. U.S. Treasury yields teetered near record lows hit the previous day, when Wall Street equity indexes slid more than 3% on news the coronavirus was continuing to spread and dozens of countries, from South Korea to Italy, had accelerated emergency measures. Adding to alarm, the World Health Organization said the epidemic had peaked in China, but urged other countries to prepare for virus outbreaks.
Asian shares fell on Wednesday as a U.S. warning to Americans to prepare for the possibility of a coronavirus pandemic jolted Wall Street yet again and pushed yields on safe-haven Treasuries to record lows. Japan was among the worst-performing market in the region, weighed by growing concerns the virus could force the cancellation of the Tokyo Olympics. Yields on 10-year and 30-year U.S. Treasuries teetered near record lows and gold rose as worries about the economic impact of the virus outbreak boosted safe-haven assets.
Stocks across the globe fell on Tuesday to their lowest since early December and the benchmark U.S. debt yield hit a record low on concerns about the economic hit of the spread of the novel coronavirus. The market selloff accelerated after the U.S. Centers for Disease Control and Prevention said Americans should begin to prepare for community spread of the new coronavirus. The flu-like virus has now infected more than 80,000 people, 10 times more cases than the SARS coronavirus.
The Dow and the S&P 500 tumbled 3% on Tuesday in their fourth straight day of losses as the coronavirus spread further around the world and investors offloaded risky assets as they struggled to gauge the economic impact. In the United States, the Centers for Disease Control and Prevention said Americans should prepare for possible community spread of the virus. "The market's realizing that though the pace of the infections looked like it was slowing, it's still spreading globally," said Shawn Cruz, manager of trader strategy at TD Ameritrade in Jersey City, New Jersey.
Based on the early price action and the current price at 27648, the direction of the March E-mini Dow Jones Industrial Average the rest of the session on Tuesday is likely to be determined by trader reaction to the main 50% level at 27627.
The S&P plunged for the second session in a row Tuesday as traders ditched stocks for safe havens, with global health authorities sounding the alarm on a "likely" coronavirus pandemic. The S&P 500 slumped 3.03% and the Nasdaq Composite fell 2.77%. Energy and financial stocks were among the worst hit as traders continued to reassess the impact of the virus on global growth, with new outbreaks in Asia, Europe and the Middle East stoking fears of a coming pandemic.
Investing.com - Gold fell for the first time in 11 sessions on Tuesday, halting its ponderous run toward the $1,700 level after analysts’ cautioned that the rally spurred by investor fears over the coronavirus contagion could reverse.
Wall Street's three major stock indexes fell 3% on Tuesday as the coronavirus spread further around the world and investors clamored for safety a day after the S&P 500's and the Dow Industrials' biggest daily declines in two years. Strategists struggled to estimate the economic impact of the virus as it spread to Spain and dozens of countries from South Korea to Italy accelerated emergency measures. The U.S. Centers for Disease Control and Prevention said Americans should prepare for possible community spread of coronavirus.
Investing.com – Stocks plunged for the second session in a row Tuesday as investors fled risk following comments from the Centers for Disease Control and Prevention that the U.S. faced further spread of Covid-19.