Global Stocks Plunge Amid Oil Crash and Coronavirus Fear
- 4 years ago
Global Stocks Plunge Amid
Oil Crash and Coronavirus Fear Global markets are taking a hit after a
failed deal between OPEC and Russia led to
the worst one-day crash in crude in decades. Saudi Arabia set off panic
within oil markets by
launching a price war. The Saudis are reacting to Russia's refusal to meet OPEC's efforts to rescue the oil market after a panic caused by the coronavirus outbreak. The S&P 500 (SPX) opened 6.9% lower.
The Dow (INDU) fell more than 1,800 points and
the Nasdaq Composite (COMP) was down 7.1%. The impact of the coronavirus has weighed
heavily on investors as the number of
confirmed cases continues to rise.
Oil Crash and Coronavirus Fear Global markets are taking a hit after a
failed deal between OPEC and Russia led to
the worst one-day crash in crude in decades. Saudi Arabia set off panic
within oil markets by
launching a price war. The Saudis are reacting to Russia's refusal to meet OPEC's efforts to rescue the oil market after a panic caused by the coronavirus outbreak. The S&P 500 (SPX) opened 6.9% lower.
The Dow (INDU) fell more than 1,800 points and
the Nasdaq Composite (COMP) was down 7.1%. The impact of the coronavirus has weighed
heavily on investors as the number of
confirmed cases continues to rise.