^sorry can’t help it, but that’s the best meme I’ve seen in quite a while….and I picked it before I saw the news….engaging snowflake shields…
It was going well enough, end of the week and US unemplyoment print coming up so markets were cautious already before the TrumpVirus news hit the wires, and all risk is now selling off sharply. S&P futures are down nearly 2% while Asian shares are off about 1% or so with safe haven buying in Yen and gold dominating, with the latter holding on to just above the $1900USD per ounce level:
Japanese stock markets returned after yesterday’s technical malfunction with the Nikkei 225 closing nearly 1% lower at 22997 points as Yen buying accelerated on the TrumpVirus news, the USDJPY pair breaking solidly down to the 105 handle in a big risk off move:
The ASX200 fell further later in the session, having been down already to close out the week 1.4% lower to 5739 points, now off nearly 5% in the last month. The Australian dollar rolled over and fell back towards the 71 handle, but not as severely as expected, holding on to the 71.40 level:
Eurostoxx futures are down 1% or more while US futures are falling faster, the S&P down 1.6% and NASDAQ nearly 2% on the TrumpVirus news. The S&P500 four hourly chart is almost back to the start of week breakout level and ready to test the 3300 point level tonight:
The economic calendar comes at the just the right time – non-farm payrolls/US unemployment the big one to get October shaking along.
Stay safe, have a good weekend!