Multi-Month Lows For Dow Jones, FTSE And DAX As Markets Remain Wracked With Covid

Multi-Month Lows For Dow Jones, FTSE And DAX As Markets Remain Wracked With Covid

Spreadex  | Oct 28, 2020 05:19

The markets started to replicate yesterday’s trading as Tuesday went on, with Europe especially looking worse for wear after another round of bruising covid-19 headlines.

Initially flat, the Dow Jones avoided the kind of panic seen in Europe, keeping its losses at a comparatively light 0.5%. Nevertheless, that sees the US index at 27,550, its worst price in almost exactly a month, and around 1400 points off of the month’s highs.

A lack of incoming stimulus, rising covid-19 case numbers, the impending election and some rough earnings releases – Caterpillar (NYSE:CAT) fell 3.3% after revealing a 54% decline in Q3 earnings – left the Dow unable to shake of its recent malaise.

And with the Dow down, the European indices didn’t stand a chance. Increasingly fearful of the impact the latest round of pandemic restrictions will have on the economy, investors once again rushed to the exit door.

The CAC led the retreat, slumping 1.9% to hit 4720. The DAX, which lost more than 400 points by Monday’s close, shed another 1.2%, taking it below 12,050 for the first time in 4 months.

And the FTSE, which had spent much of the morning protected by HSBC (LON:HSBA), eventually succumbed to a 1% decline, tumbling to 5730, its lowest price since the start of May. With HSBC’s gains cut from 6% to 3.4%, the rest of its banking stocks in the red, and a worried look in the faces of its commodities, the UK index couldn’t withstand the pull of the market’s current trajectory.

"Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.

In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved."

Original Post


Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (India) English (Canada) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors. is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.