RATE Group | Pandemonium Occurs as Cryptocurrency, S&P and Dow Crash
82817
post-template-default,single,single-post,postid-82817,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Pandemonium Occurs as Cryptocurrency, S&P and Dow Crash

13 Mar Pandemonium Occurs as Cryptocurrency, S&P and Dow Crash

Posted at 19:52h in Cryptocurrency News by

[ad_1]

World markets have recently plunged, with all stocks ranging from the cryptocurrency market to the NASDAQ / S&P market hit by the Coronavirus scare. This had a ripple effect across different industries, with investors having to watch their assets dissolve in front of their eyes.

Stocks crashed mainly due to the decision of the United States to ban travelers from Europe for a period of 30 days. The government has taken the move to contain the spread of Coronavirus from hotspots in Europe.

The MSCI global gauge of stocks posted its largest daily percentage drop on record along with its European counterparts. The DJI, Wall Street’s Dow industrial index fell by the biggest margin since the Black Monday crash of October 1987. This financial atmosphere has been so bearish that several world governments decided to increase liquidity into their systems.

The New York Federal Reserve pumped more liquidity to banks so that they could reverse a few losses. Increasing repo rates have been a sign…

[ad_2]

Source link

Tags:
, , , , ,