We saw major declines in global bourses last week after the U.S. reported 200K confirmed coronavirus cases and warned of an increased death toll. Travel and leisure stocks lead losses on a 6.3% decline.US officials currently have accused China of playing down their impact on the virus and also saying that reports from new infections and death are likely much worse than currently reported.
As markets are seemingly turning negative also the S&P 500 might head lower. We’d like to sell the break of the support at $2440 with open SL and open TP. Markets might go down quickly towards the $2000 major support level.
