InvestorQ : What does the sharp correction in the US markets on 12 March mean for trading in India on the last day of the week?
Chandralekha Desai made post

What does the sharp correction in the US markets on 12 March mean for trading in India on the last day of the week?

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Mitali Bhutta answered.
1 year ago
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It is certainly going to be extremely chaotic. The Dow was down by 10% on Thursday and so was the NASDAQ. The European markets of UK, France and Germany were down by over 12% as the Coronavirus is starting to take strong roots in these countries. Italy has already reported close to 850 deaths and it is rising. France and the US are also seeing a rising number of cases. If you look at the SGX Nifty it is already deep down by around 8% so don’t see any respite for today. The Dow is already down by 27% in the last one month and firmly in bear territory. It is rubbing off on all markets. On Thursday, the US government announced a $1.5 trillion rescue package but despite a temporary bounce, it hardly had any impact on the markets.

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