On Thursday, the 27th of February 2020, all three key indices of Wall St. were slumped for the six straight sessions in a row as the benchmark Standard & Poor 500, accountable for roughly 44 per cent of entire equity trading, had clocked the fastest correction on record as a radical upswing in newer coronavirus cases outside China had been sending shockwaves in to the major global equity markets.
As S&P 500 had clocked the fastest correction in history, a plunge of more than 10 per cent from its most recent peak, on Thursday’s (February 27th) Wall St. wrap-up, the equity index shed more than 12 per cent from its record closing high reached on February 19th, marking up the correction in six days while the previous fastest correction took nine days and occurred in the early 2018s, a S&P Dow Jones Indices analyst Howard Silverblatt unveiled on Thursday (February 27th).
On top of that, all three major US stock indices had also been well-poised to post their worst weekly plunge since the era of great financial depression in 2007-2009, as Governments in the five continents had been stepping up efforts to prevent or contain the virus outbreak from spreading further.
Meanwhile, referring to a growing uncertainty regarding the fast-spreading coronavirus outbreak, a director of trading at Performance Trust Capital Partners in Chicago, Brain Battle said on Thursday’s (February 27th) Wall St.
closure, “The path of this scourge is unknown; therefore, you can’t know the economic impact. You can roll the dice but it’s a guess. ” Quoting statistics, on Thursday’s (February 27th) Wall St.
wrap-up, Dow fell by 4.42 per cent to 25,766.64, S&P took a nosedive of 4.42 per cent to 2,978.76, while Nasdaq was jolted 4.61 per cent lower to wind down Thursday’s (February 27th) Wall St. at 8,566.48.