(12 JUNE 2020)DAILY MARKET BRIEF 1:Risk-off: equities down

<p>US equities recorded the worst single-day sell-off since April on rising fears that a second wave of Covid-10 contagion would push the economies to shut down again. The Dow Jones slumped 6.90%, as Nasdaq erased 5.27% respectively at the close. The S&amp;P500 (-5.89%) hit the critical 3000 support. Airlines, banks, energy and even technology stocks were heavily hit. The US dollar recovered, as the US treasuries gained on the back of increased capital inflows towards safe haven assets. The US 10-year yield slipped below 0.70%. US Treasury Secretary Mnuchin said the economy should remain open in case of a renewed surge in cases, but the absence of confinement measures could have more severe medium to long-term implications for the public health and the economy. Therefore, it is not sure that such decision would boost the market sentiment. Meanwhile, the weekly jobless claims in the US rose 1.5 million last week, reminding investors that the recovery we have seen in equity prices so far wa</p>