While the Corvid-19 catastrophe plummets the world. Humanity has faced more than it can chew on since ‘The Great Depression’ of the 1930s. While all of us may have been bombarded with the Corvid-19 pandemic, we’ve got focus a bit of our attention to other grave issues as well.
The once-successful stock market empire, which boasts of successful financial dealings has since been dethroned of its prestigious proverbial pedestal. The iconic financial mart which inspired a plethora of movies such as ‘The Wolf of Wall Street, Trading Places, Boiler Room, Floored and The Bank etc.’ has simply lost its mojo.
Global stock futures fell as investors digested the harsh reality of the current situation.
All however was not lost as NASDAQ climbed nearly 4%, Amazon, however hit a record on hopes as the e-commerce giant noticed gradual sales boosts despite the pandemic.
Sri Lanka’s main stock index traded at it’s worst since the Easter Bombings of 2019. The Colombo Stock Exchange received a high inquiry rate as investors were overly concerned over their investments.
Other leading Asian nations recorded lower stocks as a result of the global pandemic.
The Wall Street’s, the benchmark S&P 500 index sank 2.2% upon the American government’s report on its retail sales figures which plunged a record 8.7% while its factory output fell at the fastest rate for March since 1946.
Although the global stock markets have taken a heavy hit, it will be a matter of time before the markets manage to subdue the situation and return to normal. The same occurred in the 1930s and yet the stock market managed to thrive for nearly a century since then.
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