World stocks plunged and crude oil prices tumbled as much as 33% after Saudi Arabia launched a price war with Russia
dropped 5.1% and Australia's commodity-heavy market closed down 7.3%, its biggest daily fall since the 2008 global financial crisis.
There were also worries that U.S. oil producers that had issued a lot of debt would be made uneconomic by the price drop. “Dollar bloc central banks cut policy rates by 125 basis points, not as a way to stop a viral pandemic, but to stem a fear pandemic,” he added, while noting that many central banks had little scope to ease further.A tectonic shift saw markets fully price in an easing of 75 basis points from the Fed on March 18, while a cut to near zero was now seen as likely by April.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
5 ways the global coronavirus is entangling Trump‘America First’ doesn’t always map well onto a disease that can hop borders with just a droplet and a plane ticket.
Les mer »
Milken Institue Global Conference Rescheduled Due to CoronavirusThe Milken Institute Global Conference, an annual nonprofit think tank, has been rescheduled to July over fears of the coronavirus spreading. The conference was originally planned to be held May 2-…
Les mer »
Italy announces lockdown as global coronavirus cases surpass 105,000Italian Prime Minister Giuseppe Conte signed a decree early Sunday that will put millions of people across northern Italy under lockdown due to the novel coronavirus.
Les mer »
Global stocks tumble as oil crashes, compounding coronavirus fearsGlobal stocks are falling and bond yields are sinking after Saudi Arabia shocked oil markets by launching a price war against onetime ally Russia.
Les mer »