European update – COVID-19, Ramaphosa, gold, oil

Feb 13 13:02 2020 Print This Article

Markets stumble on latest COVID-19 numbers

It seems stock markets are not entirely immune to the effects of COVID-19, but they are putting up quite a fight in the face of more distressing figures on Wednesday.

Source – Thomson Reuters Eikon

Europe is trading back in the red in early trade after China reported a sharp increase in the number of cases and deaths, as the country adopted a broader definition to include those clinically diagnosed. This unexpected adjustment is a timely reminder of the scale of the disease, just as investors were starting to believe we were turning a corner.

I say that and yet, if Europe and Wall Street end the day back in the green, it would be no surprise. The ability of investors to quickly shrug these things off and get straight back in is almost admirable, if it wasn’t also concerning. It’s almost become self-fulfilling it’s happened so many times now. Everything is seemingly just a buy the dip opportunity. That can’t be healthy.

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Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

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