Stock markets in Europe and the US are braced for their biggest falls since the 2008 financial crisis after the trading week began with panic selling amid the double threat of a coronavirus-driven global recession and an oil-price war.
The price of Brent crude oil fell nearly 30% to $31.14 on Monday March 9th, its biggest single fall since the start of the first Gulf war in 1991. Some experts predicted it could fall even further
The Australian share market closed down 7.33% as energy companies saw double-digit losses. The Nikkei in Japan was down 5% while shares in Hong Kong were off 3.5%.
London’s FTSE 100 fell more than 8 percent initially to its lowest in three years; Japan’s Nikkei index slumped more than 5 percent.
Global markets tanked after Saudi Arabia said it would increase oil production and cut prices. Oil prices dropped by more than 20 percent, while U.S. stock futures were down almost 5 percent.
European leaders called for emergency stimulus measures to limit the economic shock from coronavirus-related lockdowns and quarantines.
Governments around the world intensified their efforts to control the virus over the weekend, with Saudi Arabia and Italy enacting restrictions on travel, Iran suspending flights to Europe, and the United States formally warning against cruise ship travel.
The Yucatan Times
Newsroom
Comments
more recommended stories
Tropical Storm Andres is the first storm of the 2021 eastern Pacific hurricane seasonTropical Storm Andres is the first.
Mexico: the deadliest country for journalists in the worldMSN News.- Israel Vázquez, 31, a.
Mexicans march in CDMX for marijuana legalization (VIDEO)Protesters smoked joints and walked from.
Want to rent this house in Tulum?Yuyum Uno Villa, Tulum, Mexico (Vrbo):.
The man who killed Rodolfo with a machete walks free out of prisonOn April 28th, The Yucatan Times.
US schools are open but many students remain hesitant to returnBy Dana Goldstein The New York Times.-.
Renan Barrera proposes public bicycle systemThe PAN candidate presented in Paseo.
Mayor of Ixil hires strippers for Mother’s Day.IXIL Yucatan (Times Media Mexico) –.
Pro-cannabis meeting held at the Parque de la Paz in MéridaThe demonstrators peacefully demanded respect for.
Investors do not want AMLO’s party Morena to have a majority in Congress.72% of investors in the country.
Leave a Comment