New York Stock Market ‘Black Thursday”
The New York Stock Exchange in the United States hit ‘Black Thursday’ following ‘Black Monday’. Wuhan’s coronavirus infectious disease (Corona19) spread and shocked worldwide due to global unrest and the aftermath of the United States’ stiffening ban on entry into Europe.
On the 12th (local time), the Dow Jones 30 industry average index on the New York Stock Exchange (NYSE) closed at 2,1200.62, down 2352.60 points (9.99%) from the battlefield.
The Standard & Poor‘s (S & P) 500 index, which reflects the entire New York Stock Exchange, fell 260.74 points (9.51%) from the battlefield at 2480.64, while Nasdaq, a technology-driven stock, closed at 7201.80, 750.25 points (9.43%) lower.
The Dow recorded the biggest drop in the day since it fell more than 22% during the so-called “Black Monday” in 1987. It was the ‘worst day’ in 33 years.
The ‘Circuit Breaker’, which stops trading for 15 minutes, was also launched. Circuit Breaker is a system that stops trading for 15 minutes in order to alleviate the impact of a surge in stock prices.
The US media analyzed that although President Donald Trump predicted an active response in the White House’s office the day before through a speech to the TV public, it was not enough to calm the market sentiment caused by the Corona 19 crisis.
The share price seemed to rebound briefly after the US Federal Reserve announced that it would put $ 1.5 trillion in liquidity into the financial market, but the uptrend did not last long.
The Trump administration came up with a stimulus package, but it didn’t work. President Trump has offered a variety of economic stimulus packages, including providing low-interest loans to companies hit by Corona19, and allowing some individuals and businesses to postpone tax payments. However, the fear of the market did not recover.
New York Stock Market 'Black Thursday - /10
The New York Stock Exchange in the United States hit 'Black Thursday' following 'Black Monday'. Wuhan's coronavirus infectious disease (Corona19) spread and shocked worldwide due to global unrest and the aftermath of the United States' stiffening ban on entry into Europe.