Source: Zero Hedge
Stocks Give Up Early Gains As “Contained” Coronavirus Death-Count Doubles Overnight “It’s contained” was apparently the narrative-du-jour… …never mind the actual facts on the ground as cases soar, deaths spike, and China declares martial law in all but name…Stocks were steady so all is well… Chinese stocks rose because “contained”… Source: Bloomberg European markets opened higher because “contained” but faded as the day wore on… Source: Bloomberg US markets were buoyant on hopes of “contained” but as reality hit during the day, and the WHO press conference, stocks faded… Futures show the price action a little clearer – from the moment it was announced that the virus had reached US… Bloomberg reports that demand for U.S. technology stocks has become so relentless that it’s time for “pulling in the horns,” according to Tony Dwyer, Canaccord Genuity LLC’s chief market strategist. “A temporary correction” is to be expected, Dwyer wrote. Source: Bloomberg Tesla soared to a new record high – topping $100bn market cap and VW for the first time as the world’s largest carmaker…
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