US tech drop fires warning shot at Europe ECM

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

US tech drop fires warning shot at Europe ECM

US_trades_PA_575x375_Sep10
(200316) -- NEW YORK, March 16, 2020 (Xinhua) -- Traders work at the New York Stock Exchange in New York, the United States, March 16, 2020. U.S. equities plunged on Monday with the Dow closing down about 3,000 points, as fresh stimulus measures from the Federal Reserve failed to calm markets amid intensifying virus fears. The Dow Jones Industrial Average cratered 2,997.10 points, or 12.93 percent, to 20,188.52. The S&P 500 fell 324.89 points, or 11.98 percent, to 2,386.13. The Nasdaq Composite Index was down 970.28 points, or 12.32 percent, to 6,904.59. (Photo by Michael Nagle/Xinhua) | Michael Nagle/Xinhua News Agency/PA Images

The resilience of capital markets in the face of the coronavirus pandemic has encouraged equity issuers and sellers to bring an abundance of IPOs, rights issues and block trades this autumn. Indices have bounced since their March nadir but their vulnerability — and that of ECM activity — to the tech stocks that have driven the rebound was made stark this week when the Nasdaq index fell more than 10% in two days, write Sam Kerr and Aidan Gregory.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login
Gift this article