HomeBusinessMarket Analysis: "Dow sees worst fall (13%) since Black Monday crash of 1987 (22%)"

Market Analysis: “Dow sees worst fall (13%) since Black Monday crash of 1987 (22%)”

Most Read

The European Union has decided to close all internal borders to permit only essential travel. Philippines, Malaysia have enacted movement controls.

The Dow crashed close to 3000pts (-13%) overnight in the worst rout since the 1987 crash. It was the third time in a week that a circuit breaker was triggered. However, Dow futures are up 3.5%. SGX is pointing to a 100pt gain for Nifty on open.

- Advertisement -

Rupee seems to be outperforming as RBI refrained from cutting rates yesterday. The Korean Won has depreciated after the Bank of Korea cut rates by 50bps yesterday. Likely open for Rupee 74.10. Likely range 73.90-74.30 with a downside bias.

We may see the forward points remain elevated as higher US yields and disappointment of RBI not delivering a cut would likely push our bond yields higher too.

The focus will be on the US Fed policy tomorrow. Now that it has already unleashed Rate cuts and QE, the tone of the policy is what would matter.

Eur 1.1177, Gbp 1.2249, Aud 0.6119, Jpy 106.37, Cnh 7.0000, WTI 29.70, Gold 1492, US 10y 0.80%, US 2y 0.42%, India 10y 6.23%, Dow -2997pts, Dow Fut +600pts, DXY 98.01. “

Subscribe To Morning Newsletters

Sign up to receive the latest news stories, exclusive interviews, and more in your inbox.

We don’t spam! Read our privacy policy for more info.

Editor's Pick

Abhishek Goenka
Abhishek Goenkahttp://ifaglobal.net
Abhishek Goenka is a founder & CEO of IFA Global.

Read More Stories

SKF Showcases Intelligent & Clean Solutions for the Textile Industry at International Textile Machinery Exhibition (ITME) 2022

SKF India, the country's leading technology and solutions provider of bearings and services will showcase innovative products and solutions...

OneRare and Cornitos: Bringing the Magic of Cornitos to the Foodverse

Cornitos is a leader in the Snack category and has always strived to give its fans and patrons the...

Chitkara University Signs MoU with NEC Corporation India to Transform Learning in the Field of AI/ML

Chitkara University announced its collaboration with NEC Corporation India, a wholly owned subsidiary of NEC Corporation, for a comprehensive...

Role of skills-based hiring in promoting inclusive economic growth in India

In recent years, India's employment landscape has experienced a profound shift, with an increasing emphasis on skills-based hiring. This...

Data Insights into Action: Techwave CEO Raj Gummadapu On Tech-Driven Approach to Business Empowerment

In an interview with TechGraph, Raj Gummadapu, Co-Founder & CEO of Techwave discussed the company's nuanced approach to Digital...

VTION Digital Appoints Srividya TN to Drive Growth & Strategic Business Development Partnerships

VTION Digital, a leading consumer behaviour measurement & analytics company, is proud to announce the appointment of Ms Srividya...