Global markets rocked amid COVID-19 outbreak, oil price war

코로나19•유가 폭락에 공포 지배…글로벌 증시 급락

It was historically-bloody Monday on global stock and oil markets.
The chaos started in Asia, shifted over to Europe and slammed the United States.
It’s a day traders around the world will remember for a long time… and there could be more pain to come this week.
Hong Yoo reports.
The first automatic halt in trading in over two decades was triggered on Monday as stocks on Wall Street slumped by historic amounts as traders fretted over the ongoing coronavirus outbreak and plummeting oil prices.
Global oil prices nosedived around 30 percent on Monday after Saudi Arabia started a price war by slashing crude oil prices for April and announcing an increase to its output.
U.S. West Texas Intermediate crude slumped to just 27-point-34 dollars a barrel in intra-day trading on Monday ts lowest in four years.
Reacting to the volatility on the oil markets, all three major U.S. stocks averages opened sharply lower on Monday.
Five minutes into trading, the S&P 500 sank a staggering 7 percent, triggering a circuit breaker that suspended trading for a quarter of an hour.
The Dow Jones Industrial Average also took a huge hit as investors sold their positions.
In response to the turmoil, the White House is inviting Wall Street executives to discuss their response to the market sell-off and the coronavirus outbreak.
President Trump will personally attend Wednesday’s meeting.
The S&P 500 finished the week’s first trading session down about 7-point-6 percent its worst day since the 2008 global financial crisis.
The Dow Jones Industrial Average slumped 7-point-78 percent to 23,851-point-33.
The Nasdaq dropped 7-point-2 percent to 7,950-point-68.
Over the Atlantic, European stocks suffered hefty losses as well.
The Stoxx Europe 600 closed 7 percent lower at 340-point-8-3, 20 percent lower than its yearly high of 433-point-9.
Markets in the UK, Germany, France and Spain, among others, all posted huge losses as well.
Hong Yoo, Arirang News.

#Global #market #COVID19

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