The Effect of the Epidemic on Global Markets
Burc Oran
May 24, 2022
Asian stocks fell

News on the epidemic measures in China and the downward revision of growth expectations suppressed the risk appetite on the second trading day of the week.

While Asian markets fluctuate with quarantine measures and the Chinese growth outlook, technology stocks are also determinant in American markets.

After the announcement that the quarantine measure will not be lifted before July in Hong Kong, the MSCI Asia Pacific Index fell. As some investment banks lowered their Chinese growth forecasts, the Chinese CSI 300 also fell by more than 1 percent. As the social media platform Snap lowered its revenue and profit forecasts, the company’s shares in the futures market fell by up to 31 percent for a while. This is reflected in Nasdaq futures with a 1.3 percent decline, while S&P 500 futures are also declining.

Euro/Dollar, on the other hand, decreased by 0.2 percent to $ 1.0671. Brent oil fell 0.6 percent to 112.7 dollars.

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