BREAKING: Disastrous US data pushes stocks lower

1:38 PM 15 April 2020

US retail sales data for March has been released at 1:30 pm BST. The reading showed headline measure dropping 8.7% MoM (exp. -8% MoM). Sales excluding autos dropped 4.5% MoM, slightly less than expected 5% drop. Simultaneously, New York Empire index for April was released. The index plunged to -78.2! Estimates pointed to -35 while the financial crisis low is -34.3. This data is a confirmation that incoming recession will be unprecedented. US500 deepened decline on the release.

US500 deepened decline after US data release. The index is closing in on the support zone at 2,750 pts. Source: xStation5

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