It seemed the word "circuit breaker" is the vogue now on most financial markets around the world.
The PSEI gapped down to -12.4 % (from previous close 5335.37 to 4673.58) at the opening when PSE resumed trading on Thursday after two days it halted trading. The decline again triggered the circuit breaker's 10% decline threshold for the third time this month. The trading halted right after the opening bell and resumed 15 minuted thereafter.
When the trading resumed the index continued plummetting down to 4039.15 level or a staggering -24.29% decline from Monday's closing price. The market recovered slightly from the day's low and closed to 4623.42 level (-13.34% decline).
This week alone the market went down -20%. That's two trading days alone this week---the worst trading week we've seen in recent history. And yet the COVID-19 virus still in the rising trajectory, yet to reach its peak.
So where we will go from here?
On another front, the oil price succumbed to its lowest at USD20 per barrel.
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