This article is brought to you by a Russian Telegram channel "Antihype on money," an analytical channel about all economic hype trends and their triggers.
What happened: Global markets have lost more than 3% in major indices. In Italy and Iran at the weekend there was a surge in the number of infected, which launched a large-scale sale in European markets. The EuroStoxx600 index has crashed 3.5% on Monday, returning to the lows of late January. Coronavirus spreads wider and faster than expected, crossing out the expectation that soon everyone will forget about it.
What really happened: Despite the scary news on the COVID-2019 virus, business sentiment in the Eurozone is recovering. Not least of all, this is facilitated by the weakening of the single currency and extremely soft monetary policy. All this supports the mood of the business and allows Europe to feel better than Asia and the United States, with the influence of fears of the epidemic on financial quotes.
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