Good News Amid Market Panic [Daily Recap]

February 27, 2020 | Hoya Capital

Good News Amid Market Panic [Daily Recap] Uncategorized Feb 27 Written By The coronavirus-related selling intensified on Thursday as U.S. equity markets dipped into correction territory with the major averages now lower by roughly 10% on the week. The sell-off continued despite generally positive news out of China on virus containment and no additional evidence of a more serious outbreak in the U.S. for the flu-like illness. The S&P 500 finished lower by 4.4% on the day while the Dow Jones Industrial Average dipped by another 1190 points, bringing the weekly point losses to more than 3,000.

The broad-based commercial Real Estate ETF (VNQ) finished lower by 5.3%, dragged down by sharp declines from the generally-safe-haven net lease and healthcare REIT sectors while hotel REITs were a surprising source of relative strength. There was good news amid the sea of red. Pending Home Sales came in far above expectations, completing the "Perfect Month" for the U.S. housing markets with better-than-expected reports on all of the major housing data releases this month.

Real Estate Daily Recap The coronavirus-related selling intensified on Thursday as U.S. equity markets dipped into correction territory with the major averages now lower by roughly 10% from recent all-time-highs. The S&P 500 ETF ( SPY ) finished lower by 4.4% on the day while the Dow Jones Industrial Average ( DIA ) dipped by another 1190 points, bringing the weekly point losses to more than 3,000 points. The 10-Year Treasury Yield ( IEF ) declined by 1 basis point to end the day at 1.30%, another historic closing low.

The broad-based commercial Real Estate ETF ( VNQ ) finished lower by 5.3%, dragged down by sharp declines from the generally-safe-haven net lease and healthcare REIT sectors while hotel REITs were a surprising source of relative strength. The sell-off continued despite generally positive news out of China on virus containment and no additional evidence of a more serious outbreak ...