Stocks fall most since financial crisis, oil plunges most since Gulf War. Here’s a look at the damage

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 80%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

When was the last time oil giants such as BP and Shell shed one-fourth of their value? Never

LONDON — A massive oil price collapse overnight and the fast-spreading coronavirus has led to wild price swings across global financial markets on Monday, with some moves as great as 25 per cent.

Those moves came as Saudi Arabia launched a price war with Russia, sending investors already panicked by the coronavirus fleeing for safety.• Brent crude fell as much as 31.4 per cent, the biggest daily drop since the first Gulf War • The yield on 10-year U.S. Treasuries fell further to a record low of 0.4624 per cent, having halved in just three sessions

• With swings in yield, markets are now fully pricing in a rate cut of 75 basis points by the Federal Reserve on March 18• U.S. stock futures plunged 5 per cent to hit their daily down limit and halt trading • London’s FTSE 100 shed 8.4 per cent a few minutes after the open in its worst single-day drop since the financial crisis• The Russian rouble is down over 8 per cent, on track for its worst drop since December 2014, also when oil prices plunged• Emerging-market stocks dropped over 4 per cent and the world’s biggest listed entity, Saudi Aramco, traded below its IPO price for the first time.

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:

 /  🏆 10. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Global stocks, oil prices sink as crude exporters squabbleGlobal stock markets and oil prices plunged Monday after a squabble among crude producers jolted investors who already were on edge about the surging costs of a virus outbreak. Todays mission, count how many times CTV News post about Oil prices and stock prices sinking. 1
Source: CTVNews - 🏆 1. / 99 Read more »

Stocks, oil prices plunge as virus closes sites around worldChina reported 40 new cases of the virus Monday, its lowest number since Jan. 20
Source: globeandmail - 🏆 5. / 92 Read more »