SET Drops Nearly 18pts as the White House Expects 240,000 Deaths in the US from COVID-19

The Stock Exchange of Thailand (SET) Index fell nearly 18 points or 1.56% in the afternoon session of April 1, 2020 after the European stock markets opened lower in fear that the U.S. economy could plunge further amid the coronavirus outbreak.

 

As of 15:37 local time in Thailand (GMT+7), SET Index fell 17.61 points or 1.56% to 1,108.25 points with a trading value of 44.7 billion baht.

Investors traded cautiously amid the volatility in the market as the outbreak of coronavirus remained severe, especially in the U.S. President Donald Trump said yesterday that it would be “very, very painful two weeks,” and warned that 100 – 240 billion people in America could die from the virus.

Meanwhile, The Bangkok Metropolitan Administration in the afternoon ordered all shops to close at midnight til 5 a.m. to contain the spreading of the coronavirus outbreak, but stating that the order was not a curfew.

Thailand reported additional 120 cases with another 2 deaths, raising the total case to 1,771 cases and 12 deaths.