Pre Market Report, March 19, 2020 | Stocks and Commodities

March 19, 2020
Time: 8.15 am

Pre Market Report:

1. US markets moved more than 4% for eighth consecutive session.
2. As I mentioned yesterday, even during Great Depression, markets moved more than 4% only for 6 days in a row.
3. So things look much more bad this time.
4. After US markets closed, ECB announced massive stimulus.
5. But the effect did not last even for few hours.
6. South Korea opened more than 2% higher, quickly sold into, now down more than 4%, taking total intraday fall to 7%.
7. Australia and Japan also the same, opened significantly higher, but turned negative immediately.
8. SGX Nifty hit a high of 8477 today morning but now lost more than 300 points.
9. Now SGX trading below 8200.
10. There is no point in writing many points when markets are in absolute panic.
11. So I stop here.