Dow futures and global stocks tumbled because of fears of a growing coronavirus surge in the US and China

Published

4 years ago

June 15, 2020

A face mask is seen in front of the New York Stock Exchange (NYSE) on May 26, 2020 at Wall Street in New York City. - Global stock markets climbed Monday, buoyed by the prospect of further easing of coronavirus lockdowns despite sharp increases in case rates in some countries such as Brazil. Over the weekend, US President Donald Trump imposed travel limits on Brazil, now the second worst affected country after the United States, reminding markets that while the coronavirus outlook is better, the crisis is far from over. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

Dow (INDU) Futures dropped more than 450 points, or 1.9%, in front of the opening bell after falling as much as 800 points overnight. S&P 500 (SPX) futures dropped 1.7%, and Nasdaq (COMP) Futures fell 1.3%.

Markets throughout Asia also recorded a sharp decline after Beijing recorded a new group of viruses comes from the largest wholesale food market in the city. The Chinese capital has recorded 79 new cases since a local infectious infection was reported last Friday for the first time in almost two months.

China also reports on economic data, showing that recovery in the world’s second-largest economy is slow.

Japan Nikkei (N225) ended down 3.5%. South Korea Kospi (KOSPI) lost 4.8%, closing the worst day since March. Hong Kong Hang Seng Index (HSI) down 2.1%, and China Shanghai Composite (SHCOMP) decreased by 1%.

European markets are broadly declining openly. That FTSE 100 (UKX) down 2.4% in London. German DAX (DAX) down 2.5%, while France CAC 40 (CAC40) decreased by 2.6%.

For weeks, Wall Street seemed increasingly cut off from the world – the rise in large stocks did not match the relatively high unemployment figures and other data showing the economy was struggling. But markets have begun to catch up with reality, and despite a small recovery on Friday, the US index is on the move to a heavy decline to start this week.

When much of the United States began to reopen after locking up the coronavirus, scientists and health experts warned about the potential for a second wave of viruses, which could have an adverse effect on the economy. Several US states which reopened last week now report an increase in the number of infections and hospitalizations.

The second wave could undermine extreme optimism about the economy which has catapulted US stocks to record highs.

In China, meanwhile, signs of another wave of the virus could worsen an already slow economic recovery.

Industrial production, investment activity and retail sales increased somewhat from previous months, according to data released by the National Bureau of Statistics of China on Monday. However, all three readings fell below the estimates of analysts surveyed by Refinitiv.

“In the end, consumers’ willingness to leave their apartment in the midst of continuous social distance – whether mandated by the government or by consumer behavior – [that] will determine the speed of recovery, “writes Stephen Innes, head of global market strategy at AxiCorp, in a research note.” But the recovery led by Chinese consumers did not move forward quickly by imagination. “

Even so, some economists point to positive signs. Activity in the country’s service sector expanded for the first time this year, according to the China National Service Industry Manufacturing Index. This index measures changes in service sector output every month.

“Overall economic output returned above the 2019 level in May for the first time since the Covid-19 outbreak,” Martin Rasmussen, China’s economist for Capital Economics, wrote in a research report. “We previously thought that the Chinese economy would not return to positive year-on-year growth until [the third quarter]. But today’s data shows that this milestone can reach this quarter. “

Oil also moves lower. US oil futures fell 4.1%, trading at $ 34.76 a barrel. Brent, the global oil benchmark, lost 3.4% to reach $ 37.49 a barrel. Brent and US oil prices both fell more than 8% last week amid fears of a pandemic revival.

– Matt Egan and Anneken Tappe contributed to this report.

Goodwin Townsend

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Portuguese historical films will premiere on 29 December.

Published

1 year ago

December 20, 2022

Herb Adkins

Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

“Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Herb Adkins

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CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

Published

1 year ago

December 20, 2022

Herb Adkins

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

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Herb Adkins

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Published

1 year ago

December 19, 2022

Herb Adkins

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.