The final numbers of the day are displayed above the floor of the New York Stock Exchange. March 20, 2020. REUTERS/Lucas Jackson/File Photo
Reuters: Graphic: Three months that shook global markets
LONDON (Reuters) - How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression.
The numbers have been staggering. $15 trillion has been wiped of world stock markets .MIWD00000PUS, oil has slumped 60% as Saudi Arabia and Russia have started a price war and emerging markets like Brazil, Mexico and South Africa have seen their currencies plummet more than 20%.
Volatility and corporate borrowing market stress has spiked on worries that whole sectors could go bust, airlines .dMIWO0AL00PUS have had half their value vaporized, while cratering economies risk a new wave of government debt crises.
“It has been like a train wreck,” Chris Dyer, Director of Global Equity at Eaton Vance, said. “You could see it coming and coming and coming, but you just couldn’t stop it happening.”
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WNU Editor: I agree with this sentence from the above Reuters report ....
.... “These are truly historical moments in the history of financial markets. 2020 will go alongside 1929, 1987 and 2008 in the text books of financial market panics,” Deutsche Bank Strategist, Jim Reid, said.
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