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Coronavirus: Ongoing Updates

The coronavirus (COVID-19) epidemic continues to impact global financial markets. This blog post aims to keep the eToro community updated on the most recent developments. For real-time updates, please refer to the @eToroLiveUpdates feed page.

For more information on how to prepare for market volatility, please refer to this blog post.

Please note that due to the high volatility and unpredictability seen in markets, eToro may, without prior notice, adjust the trading experience in such areas, but not limited to, changes in leverage, maintenance margins and TP and SL limitations.

Recent updates (last updated on 2/4/2020, 18:13 GMT)

  • Wall Street turns green: After starting Q2 in the red, US markets later registered gains, as the DJ30, SPX500 and NSDQ100 were all seen higher at time of writing.
  • Europe closes higher: The UK100, GER30 and FRA40 all finished the day with moderate gains.
  • Oil spikes 24%, en route to best day ever, after Trump says Saudis and Russians have come to an agreement to ends the oil price war.
  • Due to extreme market conditions, the following restrictions have been put in place for all eToro users:
    • Due to a ban on short-selling put in place by French regulators (AMF), the SELL side on the eToro platform is temporarily unavailable for French and Belgian stocks. Please note that in the near future, if other exchanges ban short orders, the SELL function may become unavailable on eToro without prior notice. This may also lead to the closing of any open SELL positions you may have, so please prepare accordingly.
    • Spreads may be larger than usual due to volatility and reduced liquidity
    • The maintenance margin has been reduced to 50% on all new positions. This does not affect existing positions unless they are edited.
    • Leverage on Stocks and ETFs has been restricted to max X5; Leverage unavailable for some stocks and ETFs

Previous updates:

April 2nd, 2020

  • Wall Street opens lower: Despite futures initially pointing to a positive open, the DJ30, SPX500 and NSDQ100 all opened in the red.
  • Jobless claims rise to another all-time high: The number of new unemployment claims in the US has spiked to 6.6 million – double the last record.
  • Europe turns green at the open: The UK100, GER30 and FRA40 all showed moderate gains at time of writing.
  • Future point to a further increase on Wall Street; DJ30 now set to open more than 300 points higher.
  • Oil rally continues: Black gold now up 8% for the day.
  • New jobless claims to be reported in the US today: The weekly Unemployment Claims report will be released at 13:30 GMT. After last week, the report showed a record-shattering increase of 3.2 million new claims, this week’s report is projected to show an even higher number.
  • The 2020 Wimbledon tennis tournament, which was scheduled to June-July of this year has been cancelled. The next Wimbledon tournament will take place in 2021.
  • Global confirmed COVID-19 cases crossed 900K, standing at around 930,000 at time of writing.
  • Tesla to join ventilator supply efforts: After GM has been ordered to convert some of its manufacturing facilities to produce ventilators for US hospitals, Tesla Founder and CEO Elon Musk said his company will donate ventilators to hospitals. Last week, Musk said Tesla acquired 1,200 machines from China.
  • Oil spikes on Trump’s comments: President Trump yesterday spoke with leaders from Saudi Arabia and Russia regarding the ongoing price war between the two oil giants. Following the calls, Trump said he thinks that the situation will be resolved “over the next few days,” which resulted in a 5% uptick in oil prices.
  • Futures point to higher opening on Wall Street: At time of writing, DJ30 futures showed an expected 200-point increase at the open. Yesterday, the DJ30, SPX500 and NSDQ100 all finished around 4.4% lower.

April 1st, 2020

  • Wall Street remains lower: At time of writing, both the DJ30 and SPX500 were seen more than 4% lower, while the NSDQ100 was down nearly 4%.
  • New York Governor Andrew Cuomo has announced the closing of all playgrounds in New York State; Spring Break has also been cancelled and student will continue to study remotely.
  • Europe closes lower: the UK100 and GER30 both closed nearly 4% lower, while the FRA40 tumbled more than 4%.
  • Wall Street opens in the red: the DJ30 dropped 4%, the SPX500 opened around 3.5% lower and the NSDQ100 was down more than 3% at time of writing.
  • As Italy’s death toll surpasses 12,000, the government is saying it will soon introduce new stimulus, considerably larger than the 25 billion euro package from last month.
  • European markets remain lower: At time of writing, the UK100 was down more than 3% while the FRA40 and GER30 were both down more than 4%.
  • European markets slide at the open: Both the UK100 and FRA40 fell more than 3%, while the GER30 fell more than 2.5% at time of writing.
  • Oil falls 2% due to an increase in US crude oil inventories.
  • DJ30 future point to a 600-point drop when markets open today.
  • White House says the coronavirus’ death toll in the US could reach anywhere between 100,000 and 240,000; the number of confirmed cases in New York State has passed Hubei Province in China, the epicentre of the outbreak.
  • Goldman Sachs predicts that US GDP will shrink 9% in Q1 and 34% in Q2.
  • According to a recent survey by the Bank of Japan, both manufacturers and non-manufacturers have reported negative sentiment for the first time in seven years.
  • Wall Street ends lower and records worst quarter in history. Since January 1st, the DJ30 crashed around 23%, the SPX500 tumbled 20% and the NSDQ100 dropped 14%.

March 31st, 2020

  • Wall Street turns red as major indices are set for worst quarter in history.
  • S&P Global Ratings says global growth in 2020 will be zero, but expects 2021 to show a rebound of 4.9%.
  • Europe closes higher but finishes quarter with worst-ever results. The UK100 closed nearly 2% higher, the FRA40 finished 0.4% higher and the GER30 logged gains of more than 1.2%.
  • Wall Street opens lower: at time of writing, the DJ30 was 0.4% lower, The SPX500 fell 0.44% and the NSDQ100 was seen 0.42% lower.
  • Oil showed gains after US and Russian Presidents Trump and Putin agreed to hold talks to stabilize energy markets.
  • The number of confirmed COVID-19 cases worldwide crossed 800,000.
  • Europe shows gains at the open. At time of writing, the UK100 was up more than 1.7%, the FRA40 climbed more than 1.4% and the GER30 was seen 2.5% higher.
  • Italy crossed 100,000 confirmed COVID-19 cases; Germany has more than 60,000.
  • China reported a surprising increase in factory activity over the past month.
  • The Fed estimates that the total number of unemployed individuals in the US due to the coronavirus pandemic could go as high as 47 million.
  • Future point to slightly lower opening on Wall Street, following yesterday’s gains.
  • Oil bounces back, after reaching an 18-year low yesterday. This morning, prices recovered more than 5%, climbing above the $21 mark.

March 30th, 2020

  • Wall Street hangs onto gains: At time of writing, the DJ30 was up more than 2.5%, the SPX500 climbed nearly 3% and the NSDQ100 gained more than 3%.
  • Johnson and Johnson climbed more than 7% after the company said it will be ready for human trials of a coronavirus treatment in September.
  • European markets finished higher, as the UK100 climbed nearly 1%, the FRA40 finished more than 0.6% higher and the GER30 was up 1.9%.
  • Wall Street opens higher: the DJ30 opened  0.46% higher, The SPX500 rose 0.94% and the NSDQ100 was up 1.25% at the open.
  • Data shows that the increase in confirmed coronavirus cases in the US is quicker than the rest of the world.
  • Johnson & Johnson says its coronavirus vaccine will begin human trials in September and may be available by early 2021.
  • Tokyo Olympics officially rescheduled to July 23rd, 2021.
  • Oil hit a 17-year low this morning, as OPEC leader Saudi Arabia and non-OPEC member Russia continue to wage a price war; at the same time, the coronavirus is weighing on global demand.
  • UK Deputy Chief Medical Officer Jenny Harries said the lockdown could last up to six months.
  • The Australian government plans to introduce $80 billion in new stimulus measures.
  • Europe opens lower: At time of writing, the UK100 dropped more than 2%, the FRA40 tumbled more than 2.5% and the GER30 fell more than 1.4%
  • Wall Street set for lower opening: DJ30 futures suggest that the index will fall around 300 points at the open.
  • Global COVID-19 confirmed cases top 700,000, while cases in the US passed 100,000. Originally intended to be lifted by Easter, the lockdown in the US has now been extended until April 30th by President Trump.
  • Moscow unveils new restrictions to prevent the spread of coronavirus. Those living in the Russian capital will only be allowed to leave their homes for essential purposes, such as buying food or medicine.

March 27th, 2020

  • After the $2 trillion stimulus package passed in Congress, President Trump signed in into law.
  • Wall Street finishes in the red, but still higher for the week; the DJ30 finished more than 4% lower, The SPX500 fell 3.4% and the NSDQ100 ended the day down 3.7%.
  • Europe closes lower: the UK100 fell more than 5%, the FRA40 dropped more than 4% and the GER30 finished more than 3.5% lower.
  • Wall Street falls at the open: The DJ30 opened 3.5% lower, The SPX500 fell 3.2% and the NSDQ100 was down  3%.
  • European markets remain lower: At time of writing, the UK100 was down more than 5%, the FRA40 fell more than 4% and the GER30 was down more than 3%.
  • Death toll in Italy has crossed the 8,000 mark, jumping by 662 fatalities in one day.
  • UK Prime Minister Boris Johnson has been diagnosed with COVID-19. Reports say he is experiencing mild symptoms and continues working.
  • US President Trump says he is “working closely together” with Chinese President Xi to find solutions to coronavirus crisis.
  • European markets fall at the open: The UK100 fell nearly 4% at time of writing, the FRA40 was down more than 3% and the GER30 was nearly 2% lower.
  • Wall Street posts three-day winning streak, as the DJ30 climbed 20% since Tuesday, the largest three-day gain since 1932. The SPX500 and NSDQ100 also registered impressive gains. However, futures point to losses at the open, as the DJ30 is expected to drop 400 points.
  • Gold en-route to best week in 11 days: Despite severe liquidity issues throughout the week, and taking a step back this morning, gold is still expected to end the week with gains of more than 8%, the largest weekly gain since 2008.
  • Markets in Australia tumble on coronavirus uncertainty, as the AUS200 index was down 5% at time of writing.
  • Chinese President Xi yesterday spoke with G20 leaders, calling for global coordination to prevent a recession.
  • Several countries have introduced new stimulus measures to battle the financial impact of the coronavirus, including $22.5 billion pledged by India and a $33.2 billion aid package announced by Singapore.
  • The US now has the most confirmed COVID-19 cases, surpassing China and Italy.

March 26th, 2020

  • Wall Street holds onto gains, climbing nearly 30% in three days; at time of writing, the DJ30 and SPX500 were both up more than 4%, while the NSDQ100 was up more than 3%.
  • Europe closes in the green: The UK100 and FRA40 both finished more than 2% higher, while the GER30 climbed more than 1%.
  • The UK announced a relief fund for self-employed individuals.
  • Global coronavirus cases top 500,000, doubling in just over a week.
  • Wall Street opens higher: At time of writing, the DJ30 and SPX500 were each up more than 3%, while the NSDQ100 was up nearly 3%.
  • New unemployment claims reached 3 million in the US, an all-time record, well-surpassing the previous record of 650,000.
  • Europe shows red at the open, as the UK100 fell around 1.9% at time of writing, the FRA40 dropped more than 1.7%, and the GER30 was down around 2%.
  • Futures point to correction on Wall Street, as the DJ30 is expected to open around 300 points lower.
  • Job data expected in the US: The monthly Unemployment Claims report will be published in the US at 12:30 GMT, shedding more light on the impact of the coronavirus on the US job market.
  • UK Prime Minister Boris Johnson has said that more than 400,000 volunteers have signed up to help battle the damage done by the coronavirus pandemic in the UK.
  • India on lockdown: The Indian Government has ordered 1.3 billion people to stay home, issuing strict movement limitations nationwide.
  • Dallas Mavericks owner Mark Cuban has said that he expects the NBA season to be renewed with no physical crowd attendance in arenas.
  • European markets may be impacted today by announcements from the Bank of England regarding interest rates and monetary policy, to be released at 12:00 GMT; EU leaders are expected to hold calls throughout the day, coordinating measures to battle the coronavirus pandemic.
  • Japan markets show significant losses: Investors in Japan are waiting to see the impact of the Unemployment Claims report, causing them to be more hesitant, resulting in the JPN225 index trading around 5% lower at time of writing.
  • Wall Street ends mostly higher, as both the DJ30 and SPX500 finished higher yesterday, while the NSDQ100 registered slight losses. Last night, the US Senate finally approved the $2 trillion stimulus package, which will be brought to a vote in Congress tomorrow.

March 25th, 2020

  • Wall Street extends gains with hope from the 2 trillion USD stimulus bill: the DJ30 is up 6%, the SPX500 is up 3.6% and the NSDQ100 is up 1.5% at time of writing.
  • Oil erases today’s 4% loss to trade 1.5% in the green.
  • The TVIX ETN gains in parallel to Wall Street – trades 14% higher. This ETN tracks the VIX index, aka the fear index, with X2 leverage. It is considered unusual for it to rise along with leading indices, suggesting some traders are looking for a renewed downturn.
  • UK Prime Minister Boris Johnson said to the press that over 400,000 volunteers are willing to assist the National Health Service to deal with the Covid-19 pandemic.
  • Boening lifts off: registering an unprecedented 30% gain, propelled by hopes from the US stimulus bill.
  • Wall Street opens higher: the DJ30 is up 1.35%, the SPX500 is up 0.6% and the NSDQ100 is up 0.5% at time of writing.
  • Oil plummets 3.6% as the question of demand worries traders.
  • Square Inc jumps 17% on opening for the second day straight.
  • Nine European countries are calling EU counterparts to create ‘Corona Bonds’. The new bonds are planned to combine debt securities from different European countries.
  • Facebook and Microsoft partner with WHO in a ‘Coronavirus Hackathon’.
  • European indices continue yesterday’s rally: At time of writing, the UK100 leads gains in Europe with over 5.8%, the FRA40 is second with 5.6%, and the Spanish Index, ESP35, is third with 5.1%.
  • Palladium remains solid: Following up on yesterday’s 12% leap, the precious metal continues to trade higher – up 6.5% at time of writing.
  • Bitcoin joins the global rally: The world’s largest crypto by market cap spiked 3% spike in the past hour.
  • Wall Street futures keep posting positive figures after yesterday’s historic rally. The DJ30 is up 1.03%, the SPX500 is up by 0.35% and the NSDQ100 is up by 0.05%.
  • Asian indices trade higher. At the time of writing, the JPN225 was up over 7%, the HKG50 traded 3.5% higher, and China50 gained over 3% as well.
  • Airline stocks post record gains. With the approval of the US stimulus bill, hope returned to the travel industry: Americal Airlines soared over 35%, JetBlue registered over 37%, and EasyJet climbed 10% higher.

March 24th, 2020

  • Wall Street holds onto gain, as the DJ30 was up more than 7% at time of writing, the SPX500 climbed more than 6% and the NSDQ100 registered gains of more than 5%. The gains are attributed to hopes of a new stimulus package to be announced soon; House Speaker Nancy Pelosi told CNBC that there’s “real optimism” regarding reaching a deal today.
  • G7 member countries announced that they will continue to take measures to battle the impact of coronavirus: “We will do whatever is necessary to restore confidence and economic growth and to protect jobs, businesses, and the resilience of the financial system. We also pledge to promote global trade and investment to underpin prosperity,” said the statement released at the end of today’s teleconference summit.
  • Europe closes with significant gains: The UK100 finished more than 9% higher, the GER30 jumped more than 10% and the FRA40 finished more than 8.3% higher.
  • Wall Street opens with gains: the DJ30 jumps 6%, while the SPX500 and NSDQ100 each gained more than 5% at time of writing.
  • 2020 Tokyo Olympic Games have been officially postponed to Summer 2021.
  • Europe jumps at the open: At time of writing, the UK100 was up more than 3.8%, the GER30 leapt more than 5% lower and the FRA40 climbed more than 4.5%.
  • China has officially lifted the lockdown on Wuhan city, the epicentre of the coronavirus outbreak.
  • Wall Street futures point to higher opening, after closing in the red yesterday. While the Senate was unable to agree on a coronavirus aid package, the Fed announced a series of stimulus measures. This morning, futures suggest that the DJ30 will open 900 points higher.
  • Asian markets show significant gains. At time of writing, the JPN225 index was up more than 7%, the HKG50 index gained more than 5% and the China50 index was up more than 3%.
  • British Prime Minister Boris Johnson yesterday announced a series of lockdown measures, including the closing of nonessential businesses and barring social gatherings.
  • South Korean President Moon Jae-in has unveiled a $79 billion aid package for businesses in the country that were impacted by the coronavirus.
  • As the postponement of the 2020 Olympic Games in Tokyo is still being debated, Canada and Australia have officially announced that they will not be sending representatives to the games.
  • Officials from G7 member countries, Canada, Italy, France, Germany, Japan, the UK, and the US, will be holding calls on the global impact of coronavirus throughout the day.
  • Oil climbed this morning, nearing the $25 mark, boosted by hopes that a $2 trillion aid package will be approved in the US.

March 23rd, 2020

  • Wall Street remains in the red, while Senate rejected a proposed stimulus bill. At time of writing, the DJ30 and SPX500 were down more than 3%, while the NSDQ100 lost more than 1.2%.
  • Europe ends lower: The UK100 closed nearly 3.8% lower, the GER30 closed 2.1% lower and the FRA40 tumbled more than 3.3%.
  • Wall Street opens lower: Despite the Fed’s most recent round of measures, US markets were seen lower at the open. The DJ30 fell more than 1.8%, the SPX500 was down more than 1.4% and the NSDQ100 lost more than 0.5%.
  • The Fed announced a series of additional measures to battle the impact of coronavirus, including a pledge for unlimited asset purchasing as part of its quantitative easing program.
  • Europe opens lower: The UK100 fell more than 3%, the GER30 dropped more than 3.4% and the FRA40 tumbled more than 3%.
  • Futures point to more losses on Wall Street: After registering its worst week since the 2008 financial crisis, futures suggest more declines, as the DJ30 is expected to lose 600 points.
  • Germany is looking into borrowing around 356 billion Euros in additional funds to battle the damages of coronavirus.
  • President Trump yesterday announced the deployment of the National Guard in California, New York state and Washington state, in order to combat the spread of the virus. New York state leads the US in confirmed cases and fatalities.
  • German Chancellor Angela Merkel has been put in isolation after coming in contact with a doctor who tested positive for coronavirus. Merkel will be tested in the coming days.
  • Tech giants including IBM, Microsoft, Google and Amazon have partnered with the US government, offering substantial computer resources to power research being done into the COVID-19 virus.

March 20th, 2020

  • Wall Street closes lower, registering the worst week since the 2008 financial crisis. The DJ30 lost 4.55%, the SPX500 fell 4.35% and the NSDQ100 closed 3.79% lower.
  • Oil gave up most of the gains from yesterday, falling as much as 11%, on its way to end March as the worst month on record. Saudi Arabia announced $32 billion in emergency funds dedicated to counter the current oil crisis.
  • Mexico’s central bank cut rates by 0.5% to 6.5% ahead of its planned rate announcement on Thursday, March 26th.
  • Google has announced that its annual I/O developer conference has been completely cancelled.
  • The WHO says at least 20 different COVID-19 vaccines are currently being researched and developed.
  • British Prime Minister Boris Johnson announced a nation-wide shutdown, ordering restaurants, cafes and pubs to close.
  • Europe closes higher: The UK100 ended up by 0.76%, the GER30 finished 3.7% higher and the FRA40 climbed 5.01%.
  • Wall Street opens higher: At the open, the DJ30 was up 0.65%, the SPX500 climbed 0.82% and the NSDQ100 was up 1.63%.
  • Europe held onto gains: At time of writing, the UK100 was up more than 1.7%, the GER30 climbed more than 3.5% and the FRA40 gained more than 4%.
  • Oil gives up early gains, trading more than 1.5% lower at time of writing.
  • Asian markets close higher: The HKG50 finished more than 6% and the China50 closed more than 4% higher. Markets in Japan were closed today in observance of a national holiday.
  • Europe opens higher: after several central banks in Europe announced increase monetary measures to battle the negative impact of coronavirus, GER30 rises by 5.9%, UK100 climbed 3.43% and the FRA40 was up by 6.22% (at time of writing).
  • Wall Street futures indicate more gains at the open, as the DJ30 is expected to climb 800 points.
  • Wall Street ends higher: Led by a tech rally, US markets finished in the green yesterday, as the NSDQ100 finished 2.3% higher. The DJ30 recovered from a 3-year low and finished in the green together with the SPX500. Futures indicate that the positive trend could continue, as the DJ30 is expected to show gains at the open.
  • Oil registered largest gain in history: The black gold skyrocketed 23% yesterday, indicating its largest single-day gain in history. The uptick is attributed to comments made by President Trump, saying he might intervene in the global price war.
  • Cryptocurrencies roar back: After stagnating throughout the coronavirus crisis, cryptos finally showed a recovery over the past 24 hours. Bitcoin climbed around 16%, rising above the $6,000 mark, joined by 7 other top 10 cryptos which also registered double-digit gains.

March 19th, 2020

  • Oil staged a massive comeback, rising more than 20%, en-route to one of its largest single-day gains in history.
  • Wall Street shows gains, led by tech stocks, as the NSDQ100 climbed more than 3% at time of writing. The DJ30 and SPX500 were both up by more than 1%.
  • Europe closes higher: The UK100 closed 1.4% higher, the GER30 added 2% and the FRA40 closed 2.7%.
  • The UK lowered interest rates to 0.1%, their lowest level in history, and increased stimulus measures by £200 billion to a total of £645 billion.
  • Wall Street falls slightly at the open: The DJ30 dropped 1%, The SPX500 fell 0.9% and the NSDQ100 lost 0.4%.
  • European markets shifts to slight losses after showing initial gains.
  • Italian Prime Minister Giuseppe Conte says the country-wide lockdown will be extended past the original April 3rd deadline.
  • Europe opens higher: After the ECB announced a 750 billion euro plan to buy bonds, European markets showed a recovery. Both the UK100 and FRA40 were marginally higher at time of writing, while the GER30 jumped nearly 3%.
  • DJ30 futures recover some losses, now point to an opening loss of 100 points.
  • UK extends lockdown: 40 Underground stations in London have been shut down.
  • The European Central Bank announced that it is allocating 750 billion euro for a bond-buying program, aimed at battling the effects of coronavirus.
  • The New York Stock Exchange announced that starting Monday, its iconic stock-trading floor will be closed, after two traders tested positive for COVID-19.
  • The US and Canada announced the closing of their shared border, the largest in the world, preventing all non-essential traffic from crossing.
  • The Reserve Bank of Australia announced a second rate cut for March, reducing rates to an all-time low of 0.25%.
  • JPMorgan Chase, the largest bank in the US, has announced that it is shutting down 20% of its branches.
  • Wal-Mart reached an all-time high, as Americans flock to the country’s largest retailer to stock up on food and supplies.
  • Wall Street closes lower: The DJ30 tumbled more than 6%, the SPX500 fell more than 5% and the NSDQ100 dropped 4.7%.

March 18th, 2020

  • “Circuit breakers” triggered on Wall Street for the third time after SPX500 fell more than 7%. Following the 15-minute trading halt, markets continued to decline. At time of writing, the DJ30 was down more than 9%, the SPX500 fell more than 8% and NSDQ100 was down more than 7.5%.
  • Oil fell 23% today, the 3rd-largest fall on record, falling to price levels not seen in more than 18 years.
  • The UK fell in line with other European countries, announcing that all schools will be closed.
  • UAE has issued a complete travel ban for citizens, barring them from leaving the country and mandating a 14-day quarantine period for new entrants.
  • Reports say GM, Ford and Fiat-Chrysler will close all manufacturing activity in the US; Tesla sent a memo saying “essential employees should come to work”.
  • Europe closes lower: Despite several aid packages announced across the continent, European markets finished in the red. The FRA40 closed nearly 6% lower, the UK100 finished just over 4% lower and the GER30 ended more than 5.5% lower.
  • Wall Street suffers massive losses at the open: The DJ30 crashed more than 6% and the SPX500 and NSDQ100 each fell more than 5%.
  • Oil falls more than 11%, nearing 18-year low. March could be the worst month for oil prices in history.
  • European markets remain lower: At time of writing, the FRA40 was down more than 6%, the UK100 fell nearly 5% and GER30 was down more than 5.5%.
  • Cannes Lion, the world’s most prestigious advertising festival, has been postponed to October.
  • Deutsche Bank predicts “severe global recession” in Q2, says US GDP could drop 13%.
  • GBP falls to levels not seen since the Brexit flash crash of 2016.
  • European indices tumble at the open, as the FRA40, UK100 and GER30 all fell more than 4.5%.
  • Wall Street futures set to open lower and once again hit “limit down,” after DJ30 futures fell more than 1,000 points.
  • The Trump administration has raised the price tag on its intended stimulus package, now seeking $1 trillion. The package will include cheques sent directly to American’s homes, tax deferrals and several other financial aid measures.
  • The EU has officially announced a 30-day travel ban, barring all non-EU citizens from entering Europe.
  • Taiwan has barred most foreigners from entering the country and announced a 14-day quarantine period for anyone entering the country.
  • Boeing says it is seeking a $60 billion aid package from the US government to assist the aerospace industry.
  • UK Prime Minister Boris Johnson announced a massive aid package for Brits in the form £330 billion of government-backed loans and guarantees. Johnson said his government would do “whatever it takes” to support the British people.

March 17th, 2020

  • Europe closes higher: Both the FRA40  and UK100 closed around 2.8% higher, while the GER30 gained 2.25%.
  • Wall Street held onto gains: At time of writing, the DJ30 was up more than 3.4%, the NSDQ100 gained more than 5.2% and SPX500 was up 5%.
  • The US government announced a series of possible measures for aiding Americans during the coronavirus pandemic, including tax deferrals and even financial aid cheques sent directly to US citizens. The government is also looking into introducing a stimulus package of $850 billion.
  • Wall Street shows recovery at the open: DJ30, NSDQ100 and SPX500 all climbed 2%.
  • Facebook pledges $100 million to help small businesses impacted by the coronavirus epidemic.
  • South Africa declares “State of Disaster” in light of the coronavirus outbreak.
  • European markets suffer moderate losses. At time of writing, both the FRA40 and GER30 were down less than 1%, while the UK100 fell just over 1%.
  • Euro 2020 tournament postponed to 2021.
  • European markets open lower: The FRA40, GER30 and UK100 all declined around 2 % when markets opened.
  • Wall Street futures tumble: The DJ30 future gave up nearly all of the initial gains and, at time of writing, pointed to an increase of just 50 points.
  • French President Macron announced a $50 billion aid package saying “we are at war”.

March 16th, 2020

  • Wall Street has worst day since 1987: The DJ30 yesterday tumbled nearly 13%, the NSDQ100 dropped 12.3% and the SPX500 fell nearly 12%. However, futures point to a 700-point recovery for the DJ30. The VIX index spiked more than 40% to reach a new all-time high.
  • European leaders will hold an online Economic Summit throughout the day, discussing the pandemic and attempting to come up with measures to tackle the virus’ outbreak.
  • French President Emmanuel Macron ordered people to stay home over the next 15 days, leaving only for essential purposes.
  • Hong Kong has announced that every person coming into the province from the outside must remain in quarantine for 14 days.
  • Gold fell to a 3-month low, most likely due to investors holding on to cash.
  • President Trump yesterday said the coronavirus crisis may continue into August and said the government is considering locking down certain areas in the US.
  • McDonald’s issued a request to its US franchise owners, asking them to close down dining areas in their restaurants and limit service to take-out and drive-thru.
  • Amazon announced that it is hiring 100,000 additional workers and raising wages for current warehouse employees, in an attempt to tackle the massive increase in demand for home delivery.
  • Wall Street continues to register massive losses: At time of writing, the SPX500DJ30 and NSDQ100 were all down around 9%.
  • European Commission President Ursula von der Leyen has proposed a 30-day ban on non-essential travellers coming into Europe.
  • UK Prime Minister Johnson called on Brits to refrain from non-essential contact, urging them to avoid pubs, restaurants and the likes.
  • Canada has announced the closing of its borders to all non-Canadian citizens, Prime Minister Trudeau announced today.
  • European markets close lower: Both the FRA40 and GER30 tumbled more than 5%, while the UK100 closed more than 4% lower.
  • “Circut breakers” triggered on Wall Street: The SPX500 tumbled 8% when markets opened, resulting in a 15-minute trading halt. The DJ30 crashed more than 9.7% and the NSDQ100 fell more than 6%.
  • Markets in Europe continued to tumble. At time of writing, the FRA40 was down more than 10%, the GER30 fell more than 9% and the UK100 was down more than 7%.
  • Germany shuts down borders: Europe’s largest economy has issued a strict border lockdown, allowing only German citizens and imported goods to cross the border from neighboring countries.
  • Airlines continue to tank: Major airlines registered additional sharp declines today, as the coronavirus continues to cripple the travel industry. easyJet fell 20.3%,  IAG, British Airways’ parent company, crashed 28.9% and Air France KLM dropped 18%.
  • Europe tanks at opening: The GER30 tumbled more than 8%, the FRA40 dropped more than 9% and the UK100 fell more than 6.5%.
  • “Limit down” hit on Wall Street index futures, as the DJ30, SPX500 and NSDQ100 futures all fell more than 5%.
  • G7 financial leaders will hold a call today, discussing the coronavirus outbreak and potential measures to battle the impact of the pandemic.
  • Over the weekend, the Fed reduced interest rates to 0% and announced $700 billion in quantitative easing (QE) measures.
  • The Financial Services Forum, which includes JPMorgan Chase, Bank of America, Morgan Stanley, Wells Fargo, Goldman Sachs and other major banks has announced have suspended share buybacks in order to try and maintain market stability.
  • Bars and restaurants in New York and Los Angeles have been closed, allowing takeout and delivery only. Starbucks announced a takeout-only policy across the country.
  • Apple and Nike announced the temporary closing of all retail stores in the US.
  • Spain issued a nation-wide lockdown, closing all businesses except for supermarkets and pharmacies.

March 13th, 2020

  • Shortly before US markets closed, President Trump announced a national state of emergency on the coronavirus pandemic. Among other measures, this frees up $50 billion that can be used for financial aid for those in need.
  • Wall Street spikes higher: After suffering the worst day since 1987 yesterday, US markets showed significant recovery with the largest rally seen since 2008. Both the DJ30 and NSDQ100 closed more than 9.3% higher, while the SPX500 finished 9.2% higher.
  • Despite jumping nearly 7.5% today, oil posted weekly losses of more than 24%, the largest loss since 2008.
  • Europe finished in the green, as the UK100 closed 2.46% higher, the GER30 was up 0.77% and the FRA40 closed 1.83%. However, after yesterday’s crash, European indices have still ended the week at a massive, 19% loss.
  • “Circuit breakers” have been triggered in many Asian markets, including Japan, halting trading for 10 minutes.
  • Futures point to a slight recovery on Wall Street, as the DJ30 is expected to open 400 points higher.
  • Oil prices bounced back from the monstrous losses seen earlier this week, regaining around 3% this morning. However, the black gold is still en-route to registering the worst weekly loss since 1991.
  • After yesterday suffering the worst day in history, European markets are set to open mostly higher this morning. The UK100 is expected to bounce back about 200 points and the GER30 is expected to rise a more modest 26 points. In contrast, the FRA40 is projected to open around 3 points lower.
  • Bitcoin tumbles below $5,000: The world’s largest crypto fell as much as 48% over the past 24 hours, dropping below the $4,000 mark. However, prices later recovered slightly and Bitcoin was trading around $5,000 at time of writing.
  • Wall Street suffers worst trading day since 1987: The DJ30 closed 10% lower and the NSDQ100 and SPX500 each closed more than 9%. This marks the worst single-day loss since the 1987 market crash.

March 12th, 2020

  • The Fed announced a massive, $1.5 trillion pump into the financial system, in an attempt to curb the tremendous losses seen on Wall Street. While initially slowing down the declines on Wall Street, stocks soon reverted back to their earlier losses. At time of writing, the DJ30 was more than 7% lower, while the NSDQ100 and SPX500 were each down more than 6%.
  • NHL suspends all games: The National Hockey League in the US is the second major league to suspend all activities after the NBA made a similar announcement earlier. In Europe, Euroleague basketball has also been suspended, joined by La Liga, Spain’s premier football league.
  • Europe markets close lower across the board after worst trading day in history: Despite the ECB announcing an aid package, markets in Europe finished the day with the worst single-day drop in history. The GER30 dropped 12.24%, the FRA40 crashed 12.28% and the UK100 tumbled 10.87%. The losses came after yesterday President Trump announced a travel ban on incoming flights from most of Europe, to go into effect tomorrow.
  • Update for Professional Traders operating under CySec regulation (eToro EU) and for all traders under ASIC regulation (eToro AUS): All leverage restrictions on indices trading have been removed.
  • European stocks are en-route to the worst day ever, as the GER30, UK100 and FRA40 were all down around 9% at time of writing.
  • Wall Street tumbled yet again when markets opened, resulting in the triggering of “circuit breakers,” halting all trading for 15 minutes. The halt was triggered since the SPX500 fell 7%. if it falls 13%, the halt will be triggered again for 15 minutes, and if it falls 20%, trading will be stopped altogether for the day. The NSDQ100 also tumbled around 7% when markets opened and the DJ30 fell 7.2%.
  • The ECB kept interest rates unchanged, but announced a 120 billion Euro aid package, to battle the effects of coronavirus.
  • Bitcoin experienced a dramatic, 24% drop today, plunging below the $6,000 mark. Other cryptos registered even larger losses: At time of writing, Ethereum, Bitcoin Cash and Litecoin were all down 30% or more.
  • European markets continue to tumble: At time of writing, the GER30 was down around 6.8%, the UK100 fell more than 5.8% and the FRA40 dropped more than 6.5%.
  • Italy has announced the closing of all non-essential businesses, including bars, restaurants and theatres. Supermarkets and pharmacies will be the only retailers allowed to remain open.
  • The ECB will announce its rate decision today at 12:45 GMT, followed by a press conference with President Christine Lagarde at 13:30 GMT. Since interest rates in the EU are already negative, Lagarde has very little wiggle room with this parameter. However, she is very likely to announce other measures to help battle the negative impact of the virus.
  • Futures point to more losses on Wall Street; the DJ30 is expected to lose 1,100 points when markets open.
  • eToro is opening its Club Monthly Market Review webcast to everyone: Usually reserved for eToro Club members only, this month’s Club Monthly Market Review is free for everyone to join. During the webcast, eToro analysts will be discussing the impacts of the COVID-19 coronavirus on traditional and crypto markets. The webcast will be held today (Thursday, March 12th 2020), at 13:00 GMT. Sign up here.
  • European markets continued to tumble this morning, as futures suggest triple-digit point losses for the UK100, GER30 and FRA40.
  • Asian markets suffered heavy losses this morning, as the JPN225 was down more than 5% and the HKG50 fell nearly 4% at time of writing.
  • Trump’s announcement impacted oil prices, as they tumbled 4% this morning.
  • The NBA has suspended all games until further notice, after a player was positively diagnosed with COVID-19. This is the first major sporting league to take such drastic action. Will more leagues follow? And will this impact the 2020 Olympics in Japan?
  • President Trump addressed the nation yesterday, announcing a 30-day travel ban for all incoming flights from Europe, excluding the UK. The sentiment among investors was one of disappointment, as they expected concrete stimulus steps to be announced.
  • Wall Street closed in bearish territory: The DJ30 closed 5.86% lower yesterday, 20% lower from last month’s all-time high, officially positioning it as a bear market. The SPX500 and NSDQ100 also suffered heavy losses, closing 4.89% and 4.7% lower, respectively.

March 11th, 2020

  • Wall Street tumbled today. At time of writing, the DJ30 was down more than 5%, while the SPX500 and NSDQ100 each fell more than 4%.
  • E3 cancelled: The world’s largest video game expo, which was scheduled for June 9-11 in Los Angeles, has been cancelled.
  • The World Health Organization (WHO) officially announced coronavirus a global pandemic.
  • US Treasury Secretary Steven Mnuchin discussed some of the potential measures the government could take to battle coronavirus: “We are looking at providing substantial relief to certain taxpayers and small businesses who will be able to get extensions on their taxes. We think we can provide over $200 billion of liquidity into the economy by delaying certain tax payments,” Mnuchin said.
  • The UK announced a $39 billion aid package to battle the economic slowdown caused by the coronavirus outbreak.
  • European markets close lower: The UK100 closed 1.4% lower, the GER30 finished down 0.35% and the FRA40 dropped 0.57%.
  • Wall Street tumbled when markets opened: The DJ30 opened 2.7% lower, the SPX500 was down 2.78% and the NSDQ100 fell 2.51%.
  • Reports out of Europe say ECB President Christine Lagarde is calling for all EU governments to coordinate in order to avoid a 2008-like recession.
  • Saudi Arabia escalated the price war, announcing it will ramp output by 1 million barrels-per-day; oil is down 3.4% at time of writing.
  • German Chancellor Angela Merkel says 60-70% of Germans will be infected by coronavirus; says main focus is slowing its spread.
  • US Treasury Secretary Steven Mnuchin is scheduled to testify on the Proposed Fiscal Year 2021 Budget before Subcommittee on State, Foreign Operations, and Related Programs, in Washington at 14:00 GMT. Mnuchin may also address the coronavirus epidemic and possible stimulus measures, as infections in the US topped 1,000.
  • European markets opened in the green: The GER30 and FRA40 each climbed more than 2%, while the UK100 rose more than 1%.
  • Oil prices retracted, after starting the session in the green. The black gold was down 2.2% at time of writing.
  • Bank of England announced an emergency rate cut, slashing interest rates by 0.5%, in an attempt to battle the negative impact of the coronavirus outbreak.
  • Despite yesterday’s gains, Futures point to a lower opening on Wall Street. At time of writing, the DJ30 is expected to drop 500 points.
  • Oil prices continued to climb for the second consecutive day, most likely due to several major US shale oil producers announcing production cuts. Reports out of Washington suggest that the Trump administration is mulling an aid package for US oil manufacturers.
  • Joe Biden all but secured his presidential candidacy after winning the Democratic party’s primary election in Michigan. Of all potential Democratic candidates, Biden is most-favoured by Wall Street.
  • Reports out of Washington suggest that President Trump pitched the idea of 0% payroll taxes until the end of 2020, in an attempt to stimulate markets. However, Trump did not appear at the White House’s coronavirus press briefing and no formal announcement was made yet.
  • Wall Street erased half of Monday’s losses yesterday, as the DJ30, SPX500 and NSDQ100 all closed around 4.9% higher after a volatile session.

March 10th, 2020

  • Wall Street retracts from large opening gains, however, remains in the green. At time of writing, Both the SPX500 and NSDQ100 were around 1% higher, while the DJ30 was up 0.7%. Trump has yet to announce any stimulus measures, despite promising to do so yesterday.
  • European markets close lower: Despite starting the trading day higher, European indices finished the day in the red, as the GER30 closed 1.41% lower, the UK100 dropped 1.51% and the FRA40 closed 0.09% lower.
  • In Italy, Europe’s most-affected country, Cerved (the main Italian rating agency) came out with a report estimating that between 7%-10% of Italian corporations could fail as a result of the spread of coronavirus.
  • Oil holds on to gains, trading more than 8% higher.
  • Asian markets close higher: Markets in the East held on to earlier gains, as the JPN225 closed 0.85%, the HKG50 rose 1.59% and the China50 closed 1.88% higher.
  • Update for ASIC users: Negative balance for all clients from previous sessions has been covered and accounts balances reset to 0.
  • Wall Street opened higher, as the DJ30, SPX500 and NSDQ100 all jumped at least 3% when markets opened.
  • Reports out of Russia suggest that the government has not ruled out further talks with OPEC.
  • European stocks bounced back when markets open. The UK100, FRA40 and GER30 were all around 3% higher.
  • Trump will meet with Congressmen and Senators today, to discuss emergency measures of financial relief. Among other possible measures, Trump said he is considering a payroll tax cut.
  • Futures point to a market recovery on Wall Street, most-likely due to the possible measures Trump will discuss, and perhaps announce, today. The DJ30 is expected to open 900 points higher.
  • Oil rebounded more than 9%, following yesterday’s crash, which dragged prices down to levels not seen since 2016.
  • Gold fell more than 1%, after yesterday hitting $1,700 for the first time in 7 years, as investors await possible stimulus measures from governments around the world.
  • Italy announced a country-wide quarantine, barring people from leaving their homes for any purpose other than work or emergencies.
  • Wall Street crashed on fears of the coronavirus outbreak and a global oil price war. The DJ30, SPX500 and NSDQ100 all closed more than 7% lower.

March 9th, 2020:

  • After recovering slightly, the SPX500 fell back to losses of more than 7%. The DJ30 was also down more than 7% at time of writing, while the NSDQ100 was down more than 6.3%. Earlier, trading was halted for 15 minutes due to “circuit breakers” being triggered. See previous updates below for more.
  • The White House has called top Wall Street executives for an emergency meeting on Wednesday. President Trump is expected to attend.
  • Asian indices HKG50, JPN225 and China50 all fell between 4-5%.
  • Cryptos continue to fall as Bitcoin dropped to around $7,800.
  • European stocks close in bear territory: The UK100 closed 7.69% lower, the GER30 finished down 7.94% and the FRA40 fell 8.39%.
  • Update for Professional Traders operating under CySec regulation (eToro EU): Leverage on Indices has been restricted temporarily to maximum leverage x20.
  • Wall Street indices recover slightly: DJ30 down 5.3%, SPX500 down 5.2%, NSDQ100 down 4.77%
  • VIX index (tracked by TVIX and VXX ETNs), skyrockets more than 40% on market volatility.
  • New “circuit breakers” were triggered on Wall Street: After the SPX500 fell more than 7%, trading was halted for 15 minutes; if it falls 13%, trading will again stop for 15 minutes, as long as the drop occurs on or before 19:25 GMT. If the index falls 20%, trading would be halted for the remainder of the day.
  • DJ30 fell 7.29% when Wall Street opened; SPX500 fell 7%; NSDQ100 fell 6.86%.
  • Update for ASIC users only: Leverage on Indices has been restricted temporarily to maximum leverage x20.
  • Please note that there may be a delay in US markets opening.
  • Oil suffered an extreme drop, falling more than 20%. The drop is the result of non-OPEC members not agreeing to OPEC’s proposed production cut, resulting in Saudi Arabia slashing crude oil prices, sparking fears of an all-out price war.
  • Europe tumbled at the open. The UK100, GER30 and FRA40 all fell more than 5% on the back of the drop in oil prices and coronavirus fears. Italy, which has the highest number of infected individuals and fatalities, dropped more than 10%.
  • Futures point to further drops when Wall Street opens. The DJ30 index is predicted to drop 1,300 points. This is a significant market gap that may also affect individual stocks.
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