The Strategist

Global stock markets lose $ 6 trillion in six trading days

03/02/2020 - 09:19

Global stock markets have lost $ 6 trillion over the past six trading days, CNBC reports citing S&P Dow Jones Indices.

Stock markets around the world are plunging into the correction zone, as investors fear that the outbreak of the coronavirus COVID-19 will develop into a pandemic.

The US stock market has lost about $ 4 trillion in value over the past six trading days, said Howard Silverblatt, senior analyst for S&P Dow Jones Indices.

The Dow Jones Industrial Average, S&P 500 and Nasdaq indices were in the correction zone, having decreased by at least 10% from their last maximum.

Dow on February 28 bidding fell 1.39%. S&P fell by 0.82%. NASDAQ Composite added just 0.01% to close trading on Friday.

Last week, the Dow lost more than 3200 points. The S&P 500 index fell by 10.8%, showing the worst weekly performance since the financial crisis.

The International Monetary Fund previously warned that the spread of COVID-19 outside of China could undermine global economic recovery in 2020.

According to Moody’s Analytics, the likelihood of a coronavirus outbreak escalating into a pandemic has risen to 40%.