What has happened?
Overnight the Dow Jones Industrial Average (DJI) dropped by 6.9% and the S&P 500 Index (INX) fell 5.9%.
One reason is that there seems to be a second wave of COVID-19 cases in the US. Or, the first wave is now spreading to other regions of the US beyond New York. Places like Texas, Arizona and the southern US states are seeing growing COVID-19 numbers.
The other main thing to be aware of is that the US Federal Reserve boss Jerome Powell said this week that the US economy will take longer to recover than some people are expecting. Unemployment could remain high for the rest of the year. Some businesses and jobs may simply not come back.
What are some of the ASX 200 share movements?
There aren’t many ASX 200 shares that are currently in the green right now. The best performer at the moment is Spark Infrastructure Group (ASX: SKI).
At the red end of the ASX there are plenty of shares that are down heavily. For example, the EML (ASX: EML) share price is down 11.6%, the Platinum (ASX: PTM) share price is down 11% and the Webjet (ASX: WEB) share price is down 11%.
Looking at some of the biggest ASX 200 shares, the ANZ (ASX: ANZ) share price is down 3.7%, the CBA (ASX: CBA) share price is down 3%, the BHP (ASX: BHP) share price is down 1.8%, the NAB (ASX: NAB) share price is down 3.2% and the Westpac (ASX: WBC) share price is down 4.5%.
Zip (ASX: Z1P) update
Zip announced that it achieved monthly revenue in May of $15.6 million, up 78% compared to a year ago. It also achieved monthly transaction volume of $189.3 million which was an increase of 63% year on year.
Zip’s receivables balance was $1.2 billion at the end of the month, that’s an increase of 85% compared to a year ago.
Customer numbers were up 63% year on year to 2.1 million and merchant numbers rose by 46% in 12 months to 23,600.
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