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Recession hitting hard and deep across the globe


Markets

Nikkei 225

22,882.65

▼ -326.21 / -1.41%

SSE Composite

3,403.81

▲ +53.69 / +1.60%

IBOVESPA

102,142.93

▲ +1,519.29 / +1.51%

Straits Times

2,539.63

▲ +19.82 / +0.79%

BMV IPC

37,794.25

▲ +147.06 / +0.39%

Dow Jones

28,653.87

▲ +161.60 / +0.57%

DAX 30

13,033.20

▼ -63.16 / -0.48%

BSE SENSEX

39,467.31

▲ +353.84 / +0.90%

FTSE 100

5,963.57

▼ -36.42 / -0.61%

JSE Top 40

3,308.95

▼ -10.96 / -0.33%

Market News

  • Nikkei 225: In the afternoon on Friday, Japan’s Nikkei 225 saw a major dip. Eventually, the index closed down 1.41%.
  • MICEX: Though Russia’s Micex index closed down on Friday, its monthly grow appears to be in the green, at 2.93%.
  • TSX Composite: Among the few indices in the Americas showing growth is Canada’s TSX Composite, up this month 3.63%.

Last Week’s Highlights

More Countries Reporting Serious Second Quarter Drops, Suggesting Deep Recession

Earlier in 2020, some of the world’s strongest economies, including Germany and Japan, officially dipped into recession. Now, months later, the situation only appears to have worsened and deepened, reaching even more countries. The US has been hit hard, with interest rates now at zero and the Trump Administration taking few actions to contain COVID-19.

Japan’s PM Resigns, Markets Bolstered

Prime Minister Shinzo Abe of Japan resigned this past week due to health reasons. Abe recently became the longest sitting prime minister that the East Asian country has had. And while Abe brought significant stability to Japan, the question now remains about whether or not his successor will be able to manage the country’s economy as the world continues to ward off COVID-19. Early indicators are showing the yen strong, despite the announcement.

Coming Up This Week

Travel For Those With COVID-19 Antibodies

In Brazil, a popular tourist location called Fernando de Noronha (a group of islands) have reopened to tourists. The catch? To go, you must have already had COVID-19. Around the world, and especially in Europe, tourism has begun to slowly reopen. However, worries about reinfection and new waves are growing. Is the tactic of these Brazilian islands the one to lead us through? Many scientists are skeptical.

India’s Future with COVID-19 Not Looking Bright

As SARS-CoV-2 continues to spread in communities around the world, India has lately found itself in an increasingly precarious situation. This past week, India reached a record with the most reported cases of the virus in one day. Surpassing China, Italy, and Brazil, the South Asian giant is now the country experiencing the heaviest effects of the virus, from infection to death rates. As the country’s government struggles to help its people, many wonder how serious the situation will get for India’s inhabitants and if sufficient action will be taken to combat it. 


More Things to Sip On…

While many Western countries remain in lockdown, flying in China is almost like it was before the coronavirus outbreak.

Racial violence toward Black people by law enforcement in the United States continues.

What would Donald Trump do if reelected? Even he seems unsure.


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“During recession greed dies, frugality survives.”
– Amit Kalantri –


Disclaimer
Visit our Disclosures section for additional information. All market information provided was collected in the afternoon of August 28, 2020. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of FlexInvest Inc.

All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in NewsFlight are not representative of FlexInvest.

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