Coronavirus from China spreads rapidly and hits global markets. Past Monday US stocks nosedived, S&P500 down 1.3%… NASDAQ fell 1.7%… DAO 1.48%. Tuesday markets went up. Thursday closed higher despite the Coronavirus being declared a global emergency by The World Health Organization. Friday markets plunged 600 points due the virus alert. Nations around the world are evacuating their diplomatic staff and citizens.
Since the Coronavirus threat started 1 Trillion USD of global equities gone. Oil has been affected, precious metals not so much. US Oil went down 1.73% BRENT went down 4.71%. Venezuela has announced they will propose to give the majority of the shares and actual control of their oil industry to big international firms after decades of State monopoly. The European parliament on Wednesday gave its final approval of the UK leaving the block.
The US hopes to complete a pact with the UK this year as the annual trade of goods and services between both nations are more than 230.000 Million. The US is the biggest trade partner of the UK. Space X launched its 4th internet beaming satellites past Wednesday to improve internet business.
Air lines across North America, Europe and Asia are canceling flights to China to prevent the spread of the Coronavirus. The top 5 firms capital (Facebook, Apple, Amazon, Google, Netflix and Microsoft) tops Europe’s 40 top firms. Listen the Podcast to learn more. Stay tuned for next week’s Recap.