23 March 2020 (8:17 am IST)
22 March 2020 (10:47 pm EDT)
US stock futures hit the “lower limit” earlier in the session which spooked world stock markets too and global stocks are trading highly negative in early Asia session.
US stock futures were disappointed that the Senate failed to pass a fiscal stimulus bill.
Almost all major Asian stock markets are trading highly negative at the time of writing. SGX Nifty is showing a thousand points’ drop but these numbers are from the April contracts, not from March. So, this is slightly confusing at this hour if Indian stock markets will also open with the same deep cuts.
The global trend will again depend on how US stock futures trade, and these numbers may depend on the stimulus package being debated in the Congress. If that package is cleared, US stocks may start recovery and that might have a positive affect on world stock markets.
Right now, the trend is down and traders should follow the trend.