Another big wave of recession fears hit the market today. Everything downed except the US Dollar.
The Chinese government is ordering a kind of regional lockdown, not the kind of full lockdown as last time but it’s still called the lockdown and people would rather stay at home than be forcefully separated by the police on the street.
Once again, recession fears pulled down the global market.
The crude oil market fell more than 7% today and based on the Brent oil futures market, ended at $99.31 per barrel. Nothing really changed a lot from yesterday.
The only difference was the Chinese lockdown situation. They’re officially adopting a new lockdown policy. “ Do not move around “
Biden is going to visit Saudi Arabia this week, to talk about a more stable and enough oil supply to the market but not so sure what he can get this time. Demand destruction is the only theme for the day.
US stocks market fell a bit but not too much compared to other markets.
Tomorrow is CPI day and it’s not too hard to expect a higher number than a month ago and it’s not too difficult to guess that FED will raise the rate at the end of this month with the FOMC meeting.
But what would you do with your money if you sell US stocks now? Still, US dollars and US stocks are the safest assets to most global investors.
DJ index was downed by 0.6%, S&P 500 index was downed by 0.9% and NASDAQ was downed by 1.0% today.
Big tech guys maintained their values well as well. Apple was up 0.7% but MS fell 4.1%, Amazon was downed by 2.3% and Tesla downed by 0.5%. Of course, Twitter sued Mr. Musk.
Same perceptions, as the global market freefall by the fears of recessions, investors are thinking the same thing “ Where should I go with all this money? “ The answer is quite simple. The USA… US Dollar and US stocks could…