U.S. Indices Drop As Virus Spreads Outside Of China

U.S. Indices Drop As Virus Spreads Outside Of China

US indices slumped dramatically yesterday as the virus spread outside of China continued. Meanwhile, the WHO has confirmed that China’s data on virus cases are genuine as some provinces report a reduction in totals. The organization also said the spread is not a pandemic yet, but has the potential to be one.

US30USD Daily Chart

The US30 index fell more than 3% yesterday, the biggest one-day decline since August 5 last year. All gains made so far this year have now been wiped out

The index closed below the 100-day moving average at 28,136 for the first time since October 9. The 200-day moving average is at 27,290

The US house price index probably rose 0.3% in December, up from +0.2% the previous month. Fed’s Clarida is scheduled to speak late in the day.

DE30EUR Daily Chart

The Germany30 slump continued into a third day yesterday as the number of CoVid-19 cases in Italy spiked

The index closed below the 100-day average at 13,138 for the first time this month. The 200-day moving average is at 12,638 and has supported prices since August 29

The revisions to Germany’s Q4 GDP growth are due today. Preliminary estimates were 0% q/q and +0.3% y/y.

WTICOUSD Daily Chart

West Texas Intermediate (WTI) fell the most since January 8, extending the fall from the recent peak to a third day, amid concerns that the CoVid-19 spread might hurt demand for oil.

The 55-, 100- and 200-day moving averages are all trending lower at $56.52, $56.27 and $56.24, respectively

The American Petroleum Institute (API) releases weekly crude oil stockpiles data to February 21 today. Last week saw in increase in inventories of 4.2 million barrels, the third weekly increase in a row.

Original Post

U.S. Indices Drop As Virus Spreads Outside Of China

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.