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Analysts said the index may remain at high levels in the first half of next year, but fall in the second half in comparison with relatively high figures this year.

Analysts outside the US also believe that Trump's intentional use of the racist term is to distract the US public from the wide criticism of his missteps in his early denial of the seriousness of the pandemic. Now with the stock market gains of the past three years totally wiped out, he is eager to play the blame game, especially in a presidential election year.

Analysts worried the latest US move－when US President Donald Trump raised the idea of additional possible tariffs on 0 billion worth of China imports－could increase the possibility of wider economic fallout from a potential trade war.

Analysts also pointed to growing bearish sentiments on coal prices and a gloomy global market.

Andrew R. Jassy