Stock Markets Suffer Sharp Losses As Coronavirus Spreads Across The Globe | From NDTV Newsroom
Top news with NDTV's Gargi Rawat | The stock markets crashed by 5 per cent on Monday on the back of rampaging coronavirus and plunging crude oil prices. The S&P BSE ended the day at 35,635, weaker by 1,942 points or 5.1 per cent and the Nifty ended at 10,451, down 538 points or 4.9 per cent. The Sensex suffered its biggest loss, in percentage terms, since August 2015. In other news, a turmoil was observed in the oil markets after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash pent-up supply onto the market. Brent crude futures fell by as much as $14.25, or 31.5 per cent, to $31.02 a barrel. That was the biggest percentage drop since January 17, 1991, at the start of the first Gulf War and the lowest since February 12, 2016.
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#Coronavirus #Economy #Russia #SaudiArabia