After oil … stock prices fall globally amid growing fears of the Corona virus

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Dubai, United Arab Emirates (CNN) – Global stock prices and bond yields fell after the failure of an agreement between OPEC and Russia to reduce oil production, which caused the price of crude oil to fall to historically low levels.

S&P 500 futures fell as much as 5% on Sunday evening, while the Dow futures fell more than 1,200 points, or about 4.7%, and Nasdaq Composite Futures fell 4.8%.

Sales in the Asia Pacific region also fell, with the Australian S & P / ASX 200 index closing 7.3% lower on Monday, the biggest drop for the index since October 2008. Japan’s Nikkei 225 Index fell 5.1% to the lowest level Close to him more than a year ago. South Korea’s Kospi fell 4.2%, in the biggest loss since October 2018.

Hong Kong’s Hang Seng lost 3.5% in the afternoon trading, leading to the biggest drop in the index in more than a year, and although the Shanghai Composite Index was the best performer among major indices in Asia, it also fell by 2.9%.

US 10-year Treasury yields fell to less than 0.5%, hitting its lowest level.

Financial markets in the Gulf countries also fell on Monday, as the Kuwaiti market index decreased by 10.29%, while the main index in the Saudi “Tadawul” market fell by 8.14%. The Abu Dhabi Securities Exchange index decreased by 8.7%, the Dubai Financial Market Index by 8.41%, and the Qatar Stock Exchange index by 9.38%.

The impact of global markets comes after the Kingdom of Saudi Arabia hit oil markets with a price war against Russia, following the latter’s refusal to keep pace with OPEC efforts to reduce oil production and save the troubled market of the Corona virus.





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