U.S. stock markets fell late yesterday afternoon/evening as renewed coronavirus fears took hold of market sentiment.
It has come on top of the U.S. and China renewing trade war tensions in the fallout from the virus pandemic.
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Yesterday the U.S’s infectious disease expert Anthony Fauci warned that opening up the economy too early could lead to further outbreaks of the virus. Those comments hurt investors’ risk appetite, and we saw U.S. stocks fall late in the U.S. session with the S&P 500 Nasdaq Composite and Dow Jones Industrial Average all moving lower in after-hours trading.
Overnight in the Asia session, we saw markets move slightly lower with the Nikkei and Hang Seng indexes both moving marginally lower.
This morning, European markets have not fared any better with the Dax, Euro Stoxx 50 and FTSE 100 all lower following the open. Markets have tried to stage a recovery in recent weeks as the coronavirus spread slowed and countries began to lift lockdown restrictions, but it seems to have been halted by yesterday’s events.
Ahead of the U.S. open today, markets look like they will begin the day slightly higher, but with investors getting anxious, I feel we may see another move lower.