22 September 2020: Financials Tank, Second Wave Concerns | Fonterra Result Global markets continued the recent downward trend overnight (S&P 500 Index -1.1%) with all three of Wall Street’s main indexes lower, although Tech stocks outperformed. The sell-off reflects broadly weaker risk sentiment, with a number of concerns cited, ranging from a deterioration in trends in COVID-19 case numbers with the associated threat of more lockdowns (in the US, Europe, and the UK), a report on the banking sector that showed some major global banks’ lax response to anti-money laundering warning signs, and the upcoming US elections, with the death of Justice Ginsburg adding another layer of risk.   The S&P 500 index is now down about 9% from its record close on Sep 2, with all sectors in the red and economically sensitive groups are getting hit the hardest.    Fonterra  Shareholders Fund (FSF:NZX) Fonterra shares were higher ...