Stock markets on both sides of the Atlantic have retreated Friday as investors banked profits from the week's equities rally sparked by massive government and central bank action to bolster an economy battered by the coronavirus pandemic.
The rise was linear for all the major indices particularly for US equity benchmarks which whipsawed between gains and losses.
With United States Congress inching closer to passing a stimulus bill which could aid the US economy, investors looked to take a bite at riskier assets.
United States markets did rebound following the announcement of an open-ended quantitative easing which will see the US Fed pump more stimulus into the economy.
"If affairs start to get out of control, the market sell-off will be profoundly uglier than any of the previous crises."
The JSE Top 40 also had a tough morning, compounding last week's losses to trade down more than 5%.
European stock markets pushed higher Friday at the end of another volatile week as the ECB unleashed fresh stimulus to boost the economy as coronavirus grips the continent.
Contractor Murray & Roberts says it is too early to say what impact Covid-19 will have on its current financial year's performance.
Boeing shares tumbled to a 7-year low after the company sought a $60 billion government lifeline, adding to a global market sell-off as investors fear government efforts to offset the financial damage caused by the coronavirus pandemic won't be enough.
Stock markets are moving around like a child on a jumping castle, says Warren Ingram.
Asian markets mostly rose Thursday as investors breathed a sigh of relief that US senators have finally passed a gargantuan stimulus package for the world's top economy after being delayed by wrangling over details.
Founder & Managing Director of Bourse Communications Rod North, Chairman and CIO of Bellwether Partners David Stevens and Founder of Appellon Sue Jauncey discuss the new realities investors face in this time of crisis.
The coronavirus outbreak has had a "widespread" impact on small businesses in South Africa and Small, Medium and Micro Enterprises (SMMEs) need urgent assistance on multiple fronts, according to Property Point founder Shawn Theunissen.
The Covid-19 oubreak has triggered a sell-off in markets which have not responded well to stimulus measures by central banks.
RFG said that the outbreak had not yet impacted its manufacturing facilities, but it has picked up on increasing buying patterns of long-life products; canned meat, vegetables and baby food.
Redefine Properties says its domestic trading has not yet been materially impacted by disaster management regulations in light of Covid-19.
Oil rose further Friday after a dramatic rebound from multi-year lows but stayed below $30 a barrel on fears the deadly coronavirus will push the world into recession with an oversupply.
The local bourse closed softer on Thursday after another whipsaw session.
It is now trading around the R650 level from almost R1 500 towards the end of last year.
The coronavirus shockwaves rippling through US stocks are forcing investors to contemplate outcomes more dire than a recession, including several quarters of declining economic activity, a credit crisis or even a depression.
Western CapeTechnology Specific cc t/a MVCR10 450.00 Per Month
Cape TownE-Merge IT RecruitmentR600.00 - R650.00 Per Hour
Western CapeWork In China R20 000.00 - R45 000.00 Per Month
R 4 500 000
R 2 950 000
R 4 800 000
We subscribe to the Press Code.
You choose what you want
News24 on Android
Get the latest from News24 on your Android device.
Terms and Conditions
24.com Terms and Conditions - Updated April 2012
Creating your profile will enable you to submit photos and stories to get published on News24.
This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.