Spreadex Market Update

Stocks plummet across the globe as new COVID variant frightens investors



All 3 major European indices dropped over 3% on open this morning as the Nu variant, discovered in South Africa, panicked investors.

There is now even more concern that restrictions and lockdowns are going to be imposed leading to another decline in growth.

The major losers in the FTSE today, as expected, were British Airways owner IAG, down over 20%, and aeroplane engine makers, Rolls Royce, who dropped more than 15%, further pushing back the return of long-haul travel.

UK markets were pushed even lower after the chief economist of the BoE, warned that the resurgence of the virus is forcing them to be more cautious, however they are still preparing for an interest rate hike.

US markets followed Europe as the DOW is currently down 2.87%, and S&P -2.25%.

In fact, the DOW sank to its worst day this year, due to the increased fears of lockdown.

It being thanksgiving could be contributing to the volatility, but the uncertainty surrounding this new strain and how much it realistically could impact the globe, is causing most of the instability.

SEARCH FOR AN ARTICLE:

Enter a keyword and search for all relevant articles

MARKET ANALYSIS

RECENT POSTS

Financial Trading Blog

Yen Resumes Weakening Despite BOJ Intervention

Read More

Daily Market Update

10.05.24 Friday Morning

Equities The FTSE 100 continued its ascent, reaching record highs for a fourth consecutive session after the Bank of...

Read More

Economic Diary

10.05.24

Read More

Financial Trading Blog

UK Bank Stocks Surge Double Digits

Read More

Daily Market Update

09.05.24 Thursday Morning

Equities The FTSE 100 hit a new record high, climbing 0.5% to close at 20,491.99 points. This uplift in the UK's...

Read More

Economic Diary

09.05.24

Read More

DISCLAIMER


Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.

Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.

No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.

The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.