Above is the S&P 500 daily chart. It showed the third biggest drop this week, with the overall drop from highs at about 13%. Although this is not a real crisis yet, it is already a serious bid. Due to the global panic due to the coronavirus, analysts from Goldman Sachs and JP Morgan have announced a massive revision of expectations for companies.
Virus: The number of cases outside China exceeded the number of new cases recorded in the country. The worst situation is in South Korea, with 700 new cases per day, amounting to more than 2000 in total. The second focus is Italy with 650 patients, and Iran with 245 cases.
At the same time, oil fell to $ 45.
As long as there is no slowdown in the spread of the virus, it will remain as the main topic of the markets.
EUR/USD: the euro reversed the downward trend.
Against the background of the coronavirus as well as the fall of the US market, the euro showed a sharp upward turn.
Our sales followed the footsteps at 1.0990.
Buy at the break of 1.1100 upwards.
The material has been provided by InstaForex Company - www.instaforex.com