The story of Thursday’s session on Wall Street was dominated by fears about the spread of the coronavirus epidemic in particular in China and the rest of the world, as well as its economic impact that could push the growth of the world’s second largest economy to a level considered insufficient, at least to maintain the pace of consumption and revenue expected by most companies that supply Chinese companies. In the corporate field, it is worth highlighting the 10.3% rise in Tesla shares, with a profitable quarter and a record number of cars sold, while on the reverse side of the sentiment was Facebook with more costs and a slower growth rate.
Photo by Afif Kusuma.
Almost in line with the session’s goal, the World Health Organization’s statement on the coronavirus epidemic changed the bears’ plans, because despite having classified it as a global emergency and a risk to the health of citizens worldwide, it also said that movement restriction in China will not be necessary at the same time as it welcomed the effort made by the world’s populous country to contain the virus, even indicating that the rate of spread has been at an unprecedented rate, but the answer has been at an unparalleled pace in the past. This tranquillity left by the maximum health agency in the world opened the door to a last-minute optimism that pulled the North American indices out of the red zone, thus ending Wall Street with very slight gains.
