Large-scale decline in equity markets

23 March, 2018

Yesterday, American markets experienced a real sale-off, indices fell by almost 3 percent. Earlier in the Asian trading, Chinese Shanghai Composite lost almost 4%. It was on Thursday that the markets were waiting for the announcement of the imposition of duties on China for $ 60 billion.

Trump's chief lawyer, John Daud, resigned, adding to the ranks of those who disagreed with the actions of White House head. Global negative sentiment caused by these data led to large-scale sales in global stock markets yesterday and today, as for American exchanges, US SP 500 broad market index strengthened the decline and updated the March low, as DOW approached the minimum levels of February.

In general, the global market sentiment continues to deteriorate. The most undesirable scenario for the markets is beginning to be realized-the tightening of US-China trade relations, and the unpredictability of the US administration. There is some reason to believe that a history with protectionist measures is just beginning.

China, in turn, responded with a readiness to "go to the end" in case of unleashing a full-fledged trade war. Response measures include 128 types of goods (total imports of about $ 3 billion) and are scheduled for commissioning on March 31.

Equity markets will remain under pressure. On Friday, futures for US indexes are traded in the red, and European exchanges are down. Protective assets reacted with growth for yesterday's sell-offs of stock markets. The gold market strengthened growth and is now gaining by more than a percentage, trading through the levels of $ 1341. The Japanese yen is also strengthening. Today, in Asian trading, USD / JPY was able to break through the support zone JPY105.30, and to enter a completely new price range of JPY105.30-JPY102.80.

In the FOREX currency market, yesterday's strengthening of USD dollar turned out to be short-term and ineffective. Yesterday, US currency was able to recover slightly. Today, the dollar is again experiencing difficulties being under pressure. The dollar index is trading around the 89.25 mark. The situation with the dollar does not look good now. We can expect further weakening of the US currency.

In Asian trading, oil returned to the area of $ 70 per barrel. Oil is supported by speculation about a possible extension of the OPEC agreement for 2019. A weak dollar and the prospects for sanctions around Iran - all this will support oil in the current ranges for the time being.

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