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Sell-off on global stock markets
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Silver prices soar roughly 5%
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GDP data from key economies above expectations
Pessimism has dominated global stock markets on the final trading day of the week. Following several days with wild moves and speculative frenzy, stock indices came under selling pressure on Friday. Major European blue chip indices fell roughly 2%. American stocks are sinking at press time and Dow Jones Industrial Average (US30) returned below crucial 30,000 pts.
Investors might have spotted some extraordinary activity on precious metals markets today. Silver is surging almost 5% thus climbing above $27 level. Bitcoin prices soared to $38,450 after Elon Musk changed his Twitter bio to #bitcoin. GameStop and AMC Entertainment are rallying roughly 50% at press time.
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Create account Try a demo Download mobile app Download mobile appToday’s calendar was intense with many economic releases throughout the day. Investors witnessed some positive surprises. French GDP fell only 1.3% QoQ in 4Q while consensus indicated a 4.0% contraction. Spanish GDP rose 0.4% QoQ (vs exp. -1.5%), German GDP figures turned out to be better-than-expected as well. Chicago PMI surprised on a positive note too.
US2000 has been losing ground in recent days. The index fell towards 2,060 pts today. Should the selling pressure continue, markets bears might aim at the next critical area near 2,032 pts. Source: xStation5
