Weekly Financial Market Update - February 7, 2020
February 10, 2020
China’s stimulus efforts helped to foster a risk-on rally after fears of the coronavirus rocked global markets in the second half of January. China’s central bank, The People’s Bank of China, injected hundreds of billions of dollars into the financial system when their stock market reopened last Monday after being closed for the extended Lunar New Year Holiday. The Shanghai Stock Exchange Composite (SSE), which provides a broad representation of mainland China’s stock market, sold off 7.7%, but reversed trend on last Tuesday with a 1.3% gain. The SSE finished the week 3.4% lower. The S&P 500, Nasdaq, and Dow Jones all reached new record closing highs on last Thursday, and gained 3.2%, 4.0% and 3.0% last week, respectively.
Learn more in our Weekly Financial Market Update.