The stock exchanges did not come to rest. Also on the day after the Black Monday, the Swiss SMI was to 5.55 percent, a recovery of wishful thinking. Investors are unsettled because of the consequences of the rapid spread of the Coronavirus to the world economy.
The initial joy over planned economic stimulus programs of the States and Central banks faded quickly. The drastic restriction of the freedom of movement in Italy because of the epidemic is let to be feared that other States might be forced to do this, experts told. "This would have an abrupt Blockade of the economy, which could lead the world economy into a recession."
The Swiss stock exchange and the SMI lock after an encouraging Start, with a sheer drop of 0.01 percent for 9196 points. Thus, the local stock market was square, but quite good: Germany's Dax lost 1.4 percent and the French CAC40 1.5 percent. On Wall Street, the US default value is index, the Dow Jones gave up its initial gains of four percent to 1.5 percent.
No recovery in sight
traders were disappointed that the market didn't recover after the massive losses from the previous day. "But the uncertainties are simply too great. Investors remain very cautious," said a trader. The re-slip in the afternoon I confirmed an impressive example of how fragile the Foundation of the market.
Thus, a sustained counter-movement will possible need it more confidence to the investors. And this could only with the support of the governments and Central banks to reach, dealers said. "Or, with a clear positive sign in connection with the spread of the Coronavirus."
shares, which had fallen in the Wake of the panic sales continued on Tuesday to a counter-movement: the shares of major banks, UBS ( 2.4%) and CS ( 2,6%) led the blue chips is the winner. So, they made but only a fraction of the previous day's losses of more than 10 per cent of betting.
among the winners was one with Novartis ( 1.7%), there is also a heavy weight that could offset the overall market down. The pharmaceutical giant benefited from the fact that he had announced an extensive stock buy-back program.
the price of Oil pulls back
The price of Oil, by contrast, remained on a recovery track. The Brent crude from the North sea rose in the top eleven percent on 38,22 dollars per Barrel (159 liters), after they had crashed on Monday due to the price war between Saudi Arabia and Russia, and about a quarter.
From "safe havens" and returned investors about it. So anti-crisis currency" Gold price "of 1.5 percent on 1653,15 dollars per Troy ounce (31.1 grams). The Swiss franc was able to defend against the gains from the previous day to the Euro and the Dollar with 1,0599 respectively 0,9370.
Created: 10.03.2020, 20:18 PMUpdated Date: 10 March 2020, 23:01