Today the financial markets continue with their highly pessimistic trend, with stock indices all around marking losses. The Dow 30 shed about 4%. The S&P 500 performed similarly, losing 3.7%, while the Nasdaq 100 dropped by a whole 4.5%. In Europe, the Stoxx 600 index lost 4.6%, and similar losses were observed in Asia and Australia.
In these troubled times, the US dollar continues to reign supreme. As a safety asset, it is attracting a lot of attention from investors and is appreciating against riskier currencies, such as the New Zealand or Australian dollars, as well as the currencies of developing countries.
Meanwhile, Europe is gearing up for reforms to help support the region throughout the coronavirus outbreak. The European Central Bank already announced a new swap operation to help boost the banking sector. Now individual EU states might be coordinating their efforts to introduce more bonds and support the economy that way.
In the United States, besides an ongoing Covid-19 pandemic made worse by a lack of a sufficient number of test kits and proper healthcare coverage, Joe Biden and Bernie Sanders continue to vie for the Democratic presidential nomination.
As of now, Joe Biden has a significant lead ahead of Sanders, but the latter has so far refused to end his campaign and remains in the race. Several states are reorganizing their primaries schedules to cope with the coronavirus outbreak.
