🔥LIVE🔥 Stocks to buy this week – SUNDAY WATCHLIST – AMC STOCK
Futures began to rally early Wednesday morning but quickly reversed course.
In the morning Dow Jones Industrial Average futures indicated an estimated open loss of around 40 pips, shedding more than 350 pips overnight. Futures s&P 500 and Nasdaq Also Indicate Opening Losses.
Futures showed weak growth at the opening of trading, but the post immediately changed the course. Futures also rebounded on Monday night, but the market fell again on Tuesday. Investors are waiting for news about the spread of the coronavirus around the world, especially in China, South Korea and Italy.
The stock fell for the second day in a row, with the Dow falling 879 points on Tuesday for a two-day loss of nearly 1,900 points. S&The P 500 wiped out a whopping $ 1.7 trillion of investors in just two sessions. The stock index lost 6.3% since Monday, suffering its biggest two-day drop since August 2015.
«Investors are clearly expecting even more bad news – and instead of waiting, they are being sold, Brad McMillan, chief investment officer at Commonwealth Financial Network, said in a note. “There are signs in the electronics and auto industries that a slowdown is already underway, that growth will slow. This risk is largely driven by the recent pullback in global markets».
Meanwhile, the yield on benchmark 10-year Treasuries fell to an all-time low of 1.31% on Tuesday as coronavirus concerns raised concerns about global economic growth and caused investors to seriously worry about the resilience of U.S. government bonds..
Sale Accelerates After US Health Officials Warn Coronavirus «probably» will continue to spread throughout the United States, and outlined what schools and businesses should do if the disease becomes an epidemic.
Tuesday tech sector S&The P 500 entered the retracement zone, falling 10% from its 52-week high. Apple has fallen in price by 3.3%, as a result of which losses for the week to 7%.
Cboe Volatility Index known as «fear indicator» market jumped more than 11% to close at 27.85, the highest level since December 2018. VIX, a measure of 30-day implied volatility in US stocks, crossed 30 at its session high on Tuesday as coronavirus fears rocked markets.
«Investors must be prepared for the risk of a market correction, says Pramod Atluri, portfolio manager at Capital Group. – It should come as no surprise that heightened global uncertainty, such as news of the further spread of the coronavirus and its impact on global supply chains, could plunge stocks that look overvalued in some segments».