2020 – a rollercoaster ride
by James Klempster, CFA
How to sum up 2020 so far? A rollercoaster is probably the best way to describe it; both from an emotional perspective but also in terms of what the markets have been up to. Over the first quarter, market participants went from being blissfully ignorant to a state of panic as the significance of global lockdowns became apparent and investors were left wondering what the crisis would mean for the economy and companies; not to mention the humanitarian cost.
Market Snapshot
- Cases of Covid-19 have reached 14 million globally with over 600k fatalities
- The S&P 500 reached its highest intraday level since February
- Brent crude fell -0.2% ending the week at $43.1 a barrel
- Gold rose 0.7% to end the week at $1810.4 an ounce