Global markets sank again on Monday as the coronavirus pandemic continued to worsen and after President Donald Trump announced that social distancing measures would be extended at least through April 30.
Oil was also slammed by the prospect of further disruption to the US economy and with Saudi Arabia apparently determined to pursue a price war with Russia and American producers to regain market share.
Japan’s Nikkei 225 (N225) fell 3.7%, Hong Kong’s Hang Sang Index (HSI) dropped 1.3% and China’s Shanghai Composite (SHCOMP) fell 0.9%. Germany’s DAX (DAX) dropped 1.4% in early trading, while France’s CAC 40 (CAC40) fell 2.4%. The FTSE 100 (UKX) shed 2.3% in London.
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