Spreadex Market Update
Global stock indices have found softer ground this afternoon
Global stock indices have found softer ground this afternoon, as investors chose to withdraw against continuing concerns over the Chinese economy and the situation in Ukraine. The default by a Chinese firm on its debt last week has reverberated around the world of finance, invoking a comparison of how the last crisis began, albeit on a much smaller scale. Copper, a metal very closely tied to the strength of the world’s second largest economy, has suffered some of its heaviest losses in recent memory. Yet some diversified mining stocks seem to have now priced in some of the downside, having slid ~20 percent in a little over a month.
Crucially, investors will be looking to see if equities can continue to stage a rally into the close as they have done previously. If they can, the case for owning risk is supported to at least some extent in the near-term. More concerning is when stocks find their lows at the close on heavy flow.
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