Wall Street closed with significant losses on (17/02), marked by sharp declines in all three major indexes. US President Joe Biden said that the threat of a Russian invasion of Ukraine was still high. Investors responded to this by rotating to the defensive sectors and other instruments such as Bonds and Gold.
Domestically, the JCI fell 0.22% to a level of 6,835 in yesterday’s trading; with 6 of 11 sectoral indices recorded lower. Investors indicated that they had started to take profit after the JCI managed to break its highest closing record; amid the lack of new positive sentiment. Towards the end of the week, the JCI is expected to move mixed, tending to weaken in the range of 6,800-6,875.
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