The US indices saw the biggest decline since Black Monday in 1987 to this day. S&P 500 entered the Dow and Nasdaq ‘Bear Market.
In the USA, the stress caused by the sharp fall in Crona virus and oil prices on the markets continues intensely.
The worst day has been experienced since 1987 in the US stock exchanges, which have been introduced into the circuit breaker application from time to time with strong decreases since the beginning of the week.
There was a similar decline on Black Monday in 1987, and the American markets were badly wounded.
Finally, Dow traded with a decrease of minus 9.99 percent from 21200.62 points, S&P 500 traded from minus 9.51 percent with 2480.64 points, and Nadaq with minus 9.43 percent from 7201.80 points.
WHAT HAPPENED IN THE BLACK MONDAY?
On 19 October 1987, the name of Black Monday was given to the day as a result of the world stock exchanges experiencing great depreciation in a short time.
The decline started on the Hong Kong stock exchange, followed by European stock exchanges and the USA, respectively, with time differences. At the end of the day, Dow Jones Stock Exchange fell 22.6%, down 508 points.
At the end of October, the Hong Kong stock market fell 45.8%, 41.8% in Australia, 31% in Spain, 26.4% in the UK, 22.68% in the USA, 22.5% in Canada, and 60% in New Zealand. the decline took years to recover.
BAD GOING IN EUROPE
According to information at BloombergHT, the European Stock Exchanges are the hardest in history after investors reacted to a one-month restriction on European travels to prevent the spread of the new type of coronavirus (Kovid-19), and the European Central Bank (ECB) did not lower interest rates. closed with a daily decline.
At the close, the indicator index Stoxx Europe 600 fell 11.48 percent to 294.93 points, showing the toughest daily decline in its history.
In France, the CAC 40 index decreased by 12.28 percent to 4.044.26 points. In the UK, the FTSE 100 index closed the day at 5.237.48, down 10.87 percent.
The FTSE MIB 30 index fell by 16.92 percent in Italy, which is the country most affected by the Kovid-19 outbreak outside of Asia, and the DAX 30 index in Germany, which has the largest economic economy in Europe, fell 12.24 percent on the day of 9.161. Closed at level 13.
The shares of travel and entertainment companies fell more than 12 percent today with hard sales, while the European banking index declined to 14.77 percent. Declines in the banking and travel sectors led to declines in other sectors.
On the other hand, while some investors are expecting a 10 basis point interest rate cut from ECB today, it is noteworthy that the ECB did not change interest rates and increased the amount of monetary expansion and liquidity support.