Markets remain jittery, but Tuesday should be calmer. The VIX fear index rose to levels not seen since 2020 as investors fear a possible US recession. The S&P 500 index was down 3 percent yesterday, the Nasdaq index was down 3.4 percent.
Today it seems that the declines of the last few days were a little too strong, with US futures already recording 1%. growth. In Europe, the situation is similar, yesterday the shares of the Old Continent fell by about 2 percent, and today the futures prices indicate about 0.6 percent. carpet The biggest changes in Asia – if yesterday the Japanese Nikkei 225 fell by as much as 12 percent, today the index jumped by 7 percent.
Market anxiety is well reflected in the reaction to even minor data announcements. The ISM service sector index data published yesterday recorded about 2.6 percent. growth in July, a slightly better result than the market expected. US 10-year bond yields jumped more than 10 basis points after the data was released. During the summer, as investors and traders go on vacation, liquidity in the markets drops, which contributes to the high volatility and significant price movements in the markets at this time.
Fear in the world markets did not overtake the Baltic countries either. Although at least the economic situation of Lithuania does not raise red flags, the indices of the Baltic countries recorded falls, and the OMXB index of the largest listed companies in the region fell by over 2.5 percent. Trading activity was also significantly higher than before and reached almost 4 million. euros. The Estonian "Infortar" (-5.8%) fell the most, which announced the financial results of the second quarter before trading. The quarterly results were worse compared to the last quarter and the corresponding period last year. Despite yesterday's drop, Infortar's share price is up over 40 percent this year alone.
