U.S. Futures Declined; The South Korean Market Collapsed

U.S. Futures Declined; The South Korean Market Collapsed

The U.S. stocks tumbled down as the coronavirus fears amount. The Nasdaq fell by 1.79 percent to 9,576.59, while the S&P 500 lowered by 1.05 percent to 3,337.75. The Dow Jones futures also lost 0.78 percent, stopping at 28,992.41 points at last.

All three U.S. stocks lost significantly during the last week. The Nasdaq fell by 1.6 percent. The Dow Jones lowered by 1.4 percent, and the S&P slid by 1.3 percent. 

The Chinese authorities reported new 1,109 cases of coronavirus, which caused the new wave of sell-off. According to the report, the number of infected increased by 349 in a day. The stock markets collapsed as a result. Wall Street analysts think that stocks will remain down for a while, with the investors panicking.

What About the South Korean Stock Market?

The South Korea stock market ended last Friday in the red, lowering by nearly 2.4% during the sessions. Analysts expect that the stocks will remain low for a while due to China’s new report.

Shinhan Financial plunged by 1.52 percent, while KB Financial lowered by 2.49 percent. Samsung Electronics and LG Electronics both declined by 1.33 percent and 1.88 percent, respectively.

Meanwhile, the KOSPI stock stopped just above the 2,160-point plateau after falling. It collapsed on Friday due to losses from the financial shares and technology stocks. Analysts think that it may lower more in the coming days.

KOSPI’s index tumbled down to 32.66 points, falling by 1.49 percent, before standing at 2,162.84 at last. Before that, it traded between 2,160.28 and 2,184.43.

POSCO and SK Telecom have also declined, losing 1.86 percent and 1.13 percent, respectively. LG Chem lost 2.86 percent, while SK Hynix dropped by 0.96 percent.

Hyundai Motors tumbled down by 1.54 percent, and Kia Motors decreased by 1.23 percent. On the other hand, KEPCO gained 0.38 percent, and Hana Financial was unchanged.

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