With yesterday, South Korea has a total of 833 confirmed cases; Japan has a total of 850 new coronary pneumonia infections; Italy has a total of 7 deaths, with 232 confirmed cases. In addition, confirmed cases have occurred in Iran , France, Spain, Slovakia , Bahrain , the United States, Canada, Iraq and other countries, and the new coronavirus has begun to spread around the world.
Snowball posted that the epidemic has spread around the world and European and American stock markets have fallen sharply across the board.
There is no end to the collapse of the nest, and European and American shipping stocks also suffered a full decline yesterday.
After more than 800 confirmed cases in South Korea, the South Korean Kospi index closed down nearly 3.9% on Monday, the biggest single-day drop since October 2018.
European shipping stocks fell across the board
But on the same day, Italy, far away in the Western Hemisphere, also saw a surge in the number of confirmed cases, and 7 deaths occurred. This led to a sharp decline in European shipping stocks that day, with major Italian stock indexes falling by more than 4.5%.
As of midday, the B-share share price of container shipping giant Maersk (Maersk) fell 5.65%, while the stock price of tanker owner Frontline fell 7.37%.
Denmark's Torm plummeted 7%, while ADS Crude Carriers, listed in Oslo, Norway, also fell sharply by 7.69%.
Several other shipping stocks that are also listed in Norway. Bulkers fell 4.8%, Golden Ocean fell 7.29%, and BW LPG fell 7.69%. Shipping brokerage companies were not spared, Braemar fell 5.25%, and Clarksons fell 1.4%. Danish tanker owner oncordia Maritime stock fell 7.93%. Belgium Euronav fell 3.8%.
US stocks Shipping stocks cannot be kept alive
US stocks opened, the three major stock indexes opened sharply lower collectively, the Dow Jones Industrial Average fell 3.3%, S&P 500 fell 3.2%, and the Nasdaq fell 4.2%. As of press time, the decline of the three major stock indexes remained at around 3%. Tesla fell more than 7%, while Apple fell more than 5%. Chip stocks fell, AMD fell 9.33%, and Nvidia fell 7%. Financial stocks fell across the board, JPMorgan fell 2.86%, Goldman Sachs fell 2.94%, Citi fell 3.98%, Morgan Stanley fell 4.69%, Bank of America fell 4.18%, Wells Fargo fell 2.67%, Berkshire Hathaway fell 2.64%
Monday. Only two of the approximately 50 shipping stocks in the U.S. stock market have temporarily avoided the decline. The rest fell across the board. "There is nothing to beautify how bad the shipping stocks are, and frankly, nothing to defend the current sentiment."
Evercore analyst Jon Chappell said tanker stocks have been hit hard due to the decline in crude oil demand in Europe and Asia due to the COVID-19 pandemic.
Oil tanker owner Torm shares fell 9.4% to $7.40 by noon, while Nordic American fell 8.6% to $2.99.
other shipping sectors were also not spared, with dry bulk carrier owner Star Bulk down 8.4% to $8.27, while Navios Maritime Containers, owned by Greek female ship king Angeliki frangou, fell 7.8% to $1.18.
Stifel analyst Ben Nolan said it is hard to say when the stock price will rise again. "I think there was hope for the bottom last week, but the news about the global spread of the epidemic over the weekend made my judgment ultimately prove wrong. It's hard to say when things will be resolved forever." He said that, at the same time, downward pressure on shipping stocks is making it harder for ship owners to obtain funds. "It is obvious that before things stabilized, the capital market is not very open to shipping at present."
not only was the global stock market a "green sea", but the prices of commodities such as crude oil also fell sharply, while safe-haven assets such as gold soared, and even gradually rushed to the price of $1,700 per ounce.
The Financial Times quoted Robert Carnell, chief Asia-Pacific economist at the Dutch International Group (ING), as saying: "In the face of the global spread of the coronavirus, the market may be extremely cautious." "This is no longer just an issue in Asia."
