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Analyst: The market is not experiencing panic at the moment, but the stock market may face a larger-scale sell-off during the Asian session
BlockBeats News, March 2nd, Monday's opening. The overall trend of stock index futures prices is downward, while crude oil and gold prices have risen, but panic has not yet emerged. Institutional analyst Mark Kudmore pointed out that the changes in most non-energy commodities are relatively small, and prices of almost all commodities have retreated from their extreme levels at the opening.
The oil price increase has narrowed from over 13% at the opening to 8%, and some profit-taking has begun to emerge. The prices of gold and silver have both risen by over 1%, but given the recent market volatility, this increase seems relatively moderate. In conclusion, although it is still too early to draw conclusions, there is currently no panic in the market.
However, if one thinks this can serve as an accurate guide for the entire trading session today, that would be too naive. Because as Asian spot markets open one after another, we may face larger-scale selling, especially if there are issues with "memory" trades (memory trades have boosted the South Korean KOSPI index by 50% year-to-date) (FX678)
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