Dow falls 630 points after another oil plunge, bringing its 2-day drop to over 1,200 points; European shares close 3% lower on oil plunge; basic resources down almost 6%; BELEX15 almost flat; NIS down 3.8%; Inflation expectations in Serbia remain stable
U.S. stocks fell sharply once again on Tuesday as oil prices continued their unprecedented wipeout, further denting market sentiment and dampening the global economic outlook. The Dow Jones Industrial Average slid 631.56 points, or more than 2.6%, to close at 23,018.88. Tuesday’s losses brought the Dow’s two-day decline to more than 1,200 points. The S&P 500 dropped 2.7% to 2,736.56 while the Nasdaq Composite fell 3.5% to 8,263.23.
Not helping sentiment were shares of IBM, which slipped 3% after the company reported a 3.4% decline in revenue in the first quarter from a year ago amid the spread of coronavirus.

European markets closed sharply lower on Tuesday as oil market volatility and the coronavirus outbreak remained in focus. The pan-European Stoxx 600 closed down over 3% provisionally, driven lower by basic resources stocks, which cratered almost 6%. All sectors and major bourses were trading below the flatline.
Dutch payments firm Adyen gained more than 9% to top the Stoxx 600 after posting a 34% surge in first-quarter revenue.

BELEX15 ended the day with almost no change – plus 0.12%. Oil&gas company NIS was the most active name with RSD 9.4m traded, while the stock plunged 3.8%, which was expected, given the recent events with crude oil market. Other stocks were far less traded. From the macro side, we had NBS report on inflation expectations, which says both financial and corporate sector expect annual inflation in a range of 2-2.5%. This is in line with central bank projections.
Source: CNBC, Ilirika