Stock markets tumbled across the globe and oil prices slumped Thursday after President Donald Trump banned all travel from mainland Europe to the United States for a month to fight the coronavirus pandemic, ramping up fears of worldwide recession.
The world’s largest economies delivered more worrisome cues on Monday as anxiety over the virus outbreak sent stock and oil prices plunging and closed sites from the Sistine Chapel to Mideast schools.
Indian stocks on Monday recorded their worst single-day fall in more than four years, tracking global markets lower, as panic over the economic fallout of the coronavirus outbreak intensified and oil prices plummeted.
Share markets across the world fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion US stimulus package.
The key Indian equity markets − S&P BSE Sensex and NSE Nifty50 − might face some pressure in the coming week as investors remain on the edge regarding the economic fallout of the COVID-19, analysts opined.
Fresh support announced by the Federal Reserve failed to lift Wall Street on Monday, after Europe and Asia had both been overwhelmed by the coronavirus pandemic and growing number of national lockdowns that could push the global economy deep into recession.
World stock markets rallied strongly on Tuesday after the US Federal Reserve launched an unprecedented bond-buying plan, the latest salvo in a global counter-attack against fallout from the coronavirus outbreak.
Indian stock markets erased all their initial gains on Friday, with the BSE Sensex closing 131.18 points lower, although the Reserve Bank of India (RBI) announced an emergency rate cut of 75 basis points.
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.