US close, Asia & nos...15 Mar 2022 05:08
DJ +1 (32,945)
SP -31 (4173)
NS -255 (13,047)
R2 -15 (1270)
WTI $98•89
10ytb 2•148%
MSCI(W) -14 (2826)
Gold Bugs -14 (299)
Latest:- Oil $102. Vix 31•77
Gold $1941. Copper $4•532.
Palm $1830. Silver $25•110.
$1•304. €1•188. Yen 118•312.
Yuan 6•374. FF -36. DF +10.
Hong Kong's Hang Seng index is down another 584 points at lunch as the virus continues spreading in Shenzen the main tech & manufacturing hub bordering HK, which is now in its 3rd day of lockdown scheduled to last a week. Its 17m people many who work in tech & manufacturing are off work, severely impacting the supply of electronic goods, cars and hundreds of parts to the port of Yantian for global distribution.
Foxconn one of Apples bigest iphone assembly plants is closed. Many Hong Kongers are employed in Shenzen. To date the Hang Seng is down nearly 20% ytd and Shanghai's main index is off 13% as parts of the city are closed due to a doubling of the virus in the last 24 hours.
Investors cont to switch out of risk assets. Gold the usual safe haven is down from recent high of $2078, perversely falling worried about the Fed's move on rates this week. Morning all.