US futures suggested the Dow Jones Industrial Average would lose almost 5% of its value - falling more than 1,200 points at the open due at 1.30pm UK time.
Market analysts pointed to the fallout from last week's meeting of major oil-producing nations involving the Opec cartel led by Saudi Arabia and non-member Russia. A deal had been expected that would have seen output cut by more than a million barrels per day combined, in a bid to prop up prices. Saudi Arabia responded to the failure of the talks by threatening to raise Brent crude production from next month, to force Russia into line.Three deaths in patients who tested positive with the virusSunday saw a rise of 72 cases to reach a total of 278 - the highest increase in cases in a 24-hour period
Supermarkets have placed restrictions on items including pasta, anti-bacterial wipes and hand soap in a bid to prevent shoppers from stockpilingPeople returning from affected areas in Italy told to self-isolate regardless of whether they have symptomsVirus Outbreak: Global Emergency - Watch a special Sky News programme on coronavirus at 6pm weekdays
Vulnerable sectors that will take a hit from declining oil prices and COVID-19 pandemic: - Transportation (mostly airlines) - Energy - Mining - Tourism - Hospitality industries (hotels, cruise liners)
Join in China market , my friend .
All we can do is stock up on toilet paper and pray to our gods 🙏 saveuscomputeroverlord
neve mind
Now is the time to invest. Everyone selling off will be kicking themselves when this all turns around. Meanwhile the people who didn't panic will be sitting pretty
Great we are getting new
The media is doing the devil's Dirty Work and anyone who listens to their BS is nothing more than a lemming!
The reason people are panicking is because the media is terrifying them for money.
ohhh noo my stocky wockys ddrop ahhhh geez
Does this mean cheaper petrol?
That's bullshit. The market has been in a bubble. That's been growing do to trade. 2 yrs now. It popped. It will come back. After it corrects itself.
The US government is so incompetent! China bought you a month and you didn't control the outbreak. Can't even copy homework! Stupid beyond description! Can you bury your head in the sand? End up hitting the economy harder!
Remember when Obama caused a marketcrash? Yeah, neither do I. TrumpCrash realDonaldTrump
Thoughts and prayers
Thank you to the mainstream press for blowing this completely out of proportion. 2019-2020 Flu: 20,000 deaths Coronavirus: Less than 2K Sensible responses are being called for, but the MSP can only slide between No Problem and World Wide Pandemic.
“Energy independence “
An opportunity to buy as this goes down due to people panicking. The world wont end. We will hit all time highs again, ready for the next crash. Do the opposite to the heard. Rebound will be sharp when the world sees it was actually the numbers of a common cold.
Slump rhymes with Trump. He’s probably going to do a bailout like Bush did back in 2008. suckers RichGetRicher taxpayers money
Toilet roll now worth more than gold. coronavirus COVID19
You aren't helping.
Oil price collapse is due to the OPEC dispute over the weekend.... NOTHING TO DO WITH CORONAVIRUS! scaremongering !!!
Was the oil price not already massively down before this