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Market Reports

7:30am, July 20th 2021

Markets Plunge As Covid Jumps

Monday’s trading session saw a full-on risk-off day across global markets which produced the worst day for US stocks in 2021 so far. As cases surge in Asia, the UK, and the US, investors chose to reduce their exposure across various asset classes.

European equity markets fell around 3% on the day, with US markets not too far behind with losses between 2% – 2.5%. The price of oil crashed 8% with OPEC deciding to provide additional supply to the market over the weekend. Beneficiaries of the turmoil were government bonds as well as the US dollar. The greenback gained handsomely on the day against its peers, pushing into the $1.36 and $1.17 handles against the pound and euro, respectively.

Focus across Tuesday’s session will very much be on whether markets continue to sell-off or if this event is isolated to 1 day of price action. Markets bounced into the US close at 9 pm UK time last night which has buoyed sentiment overnight. All eyes on the European open at 8 am today.

Written by Viv Savani. 7:30am, July 20th 2021

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

Previous Reports

7:39am, September 23rd 2021

Fed Kick The Can Down The Road

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8:22am, September 17th 2021

US Retail Sales Beat While the UK Misses

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8:17am, August 26th 2021

Markets Await Jackson Hole

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