The state of the global economy was far from being ideal. However, the coronavirus pandemic caused even bigger problems for the economy. The primary goal of many companies is to stay afloat and every day they are trying to do their best to reach this goal. It is not surprising that global stocks are struggling with the everchanging environment.
Hong Kong decided to extend its ban on public gatherings of more than four people. Furthermore, some bars will remain closed until April 23.
Two days ago, the Prime Minister of Japan Shinzo Abe declared a state of emergency to tackle coronavirus infections in major population centers.
Singapore is a major financial hub. Recently, Singapore passed a set of laws to ban social gatherings of any size in both private and public areas.
However, there is some good news as well. Wuhan was the virus epicenter in the country. China lifted travel restrictions. Thus, the local population has the opportunity to leave the city for the first time since January.
Let’s have a look at the global stocks. On April 7, the Dow Jones Industrial Average fell 26.13 points or 0.1 to 22,653.86. Also, the S&P 500 ended its trading day 0.2% lower at 2,659.41. At the same time, the Nasdaq Composite dropped 0.3% to 7,887.26.
Global stocks on April 8
It was a good day for Japan’s Nikkei 225 as on April 8 its index gained 2.13% to close at 19,353.24 as shares of index heavyweight Fast Retailing jumped 7.7%.
Furthermore, the Topix index added 1.59% to end its trading day at 1,425.47. Global stocks in the Asia Pacific were mixed on Wednesday.
The Shanghai Composite dropped 0.19% to about 2,815.36. Meanwhile, the Shenzhen composite fell 0.156% to around 1,740.65.
South Korea’s Kospi index dropped 0.9% to 1,087.14 and Australia’s S&P/ASX 200 decreased 0.86% to 5,206.90.