Market Overview

Yesterday was another day of big falls in the financial markets, having been the biggest in history on European soil. Contributing to this was the defrauded actions of Christine Lagarde and Donald Trump. The president of the European Central Bank (ECB), Lagarde, announced a temporary stimulus package where she will expand the quantitative easing program. Moreover, Donald Trump who had promised a big package of measurements to tackle the crisis that lies ahead, only ended up creating a line of credit for small businesses in the affected territories. The only news that was well received yesterday was that of the Fed that announced it would buy more bonds.

In the stock market, great falls were observed. In Europe and in its benchmark index - Stoxx 600 - it had dropped by 11.48%. In the United States, the Dow Jones fell by 9.99%, while the S&P 500 depreciated by 9.51% and the technological Nasdaq lost 9.43%.

The interest rates on the debt market in Europe ended up rising, something that has not happened for a long time, while Germany was the only exception. Interest on 10-year debt has also risen in the United States.

The European currency also lost over the course of yesterday due to the declines observed in the main stock exchanges.

Oil also fell by around 9%, having been influenced by Donald Trump's news of suspending travel from Europe to the United States for the next 30 days.

Gold, on the other hand, has also fallen and has therefore not been used as a safe asset in this time of uncertainty.

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