Wednesday saw the S&P 500 down 5.2% and Toronto down 7.6% as oil prices dove.
Most stocks were down, many double digit percentage losses.
A few stocks were up. Amazon has held up really well. Walmart and Costco too. FedEx has not done well but was up a bit today.
With all the accelerating shut downs, the reality of the situation is still sinking in. Therefore we are not yet at peak fear and more fear will likely drive markets lower. And then companies may start to announce dividend cuts and/or how much their revenues are down leading to more market declines.
There may be good news that will push markets higher but it seems more likely the down draft continues.
On the Virus front China continues to appear to have beaten the virus and have very few new cases. Chin is now helping other countries.
https://www.worldometers.info/coronavirus/#countries
The latest figures from Korea are discouraging with 245 new cases. Possibly that is due to more testing in more areas. I saw a claim that Italy has had great success in the original 10 towns that it locked down two weeks ago. Overall, cases in Italy are still ballooning. The U.S.A. looks to be in trouble with a bizarre lack of test although they are now ramping up.
I have some hope that Canada can nip this in the bud. Certainly Alberta is doing a lot of testing. And the wide-spread closures in Canada along with lots of testing might prove successful.