Global stocks tumble as gold soars on virus pandemic fears

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

NEW YORK: Global stocks were hammered on Monday (Feb 24) and gold prices soared on safe-haven buying as fears mounted that the new coronavirus ...

NEW YORK: Global stocks were hammered on Monday and gold prices soared on safe-haven buying as fears mounted that the new coronavirus would derail economic growth.

Oil prices tumbled on worries about demand, while gold prices on the London Bullion Market spiked to US$1,689.31 per-ounce, a level last seen in January 2013, before easing back somewhat as investors sought the precious metal as a safety measure amid the market turbulence.Investors have been unsettled by the spread of the disease, analysts said.

Meanwhile, the World Health Organization said the new coronavirus epidemic had"peaked" in China but warned that a surge in cases elsewhere was"deeply concerning" and all countries should prepare for a"potential pandemic.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US: Stocks join global rout on coronavirus fearsRead more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »