The possibility of the G7 taking a joint position or at least something concerted, in order to stimulate the respective economies to deal with the economic consequences of the Coronavirus epidemic which is now in a mode of rapid expansion in Europe and the USA. Today one of the strong points for optimism that lives on Wall Street is Joe Biden’s surprising victory on Super Tuesday, comfortably surpassing Bernie Sanders in the number of delegates to be chosen by the Democratic party in November elections.
After it was known that candidate Michael Bloomberg withdrew from the race for the White House and he will give Joe Biden his endorsement, which substantially reduced the fear that Bernie Sanders would be chosen. Sanders who has made attacks on some sectors specific to the economy, such as healthcare companies, a sector that is currently valuing more than any others in the S&P500, by earning a 3.74% gain.
Photo by Visuals.
However, despite the day of uphill across the line it is still early for the Bulls to claim victory over fears caused by coronavirus. It is even likely that the feeling may get worse before it gets better. For this reason and in anticipation of a period that may be of extra volatility for a few more days, the watchword is caution.
