This happened for the first time after the financial crisis of 2008-2009, investors have already called this day "Black Monday."
The S&P 500 index of the largest American companies fell immediately by 7 percent. Dow Jones fell 7.2%, the Nasdaq technology index lost more than 7 percent.
American sites picked up a downward trend, exacerbated on Monday at Asian and European auctions after a sharp drop in oil prices. The stocks of oil giants suffered the most. In the USA, these are Chevron and Exxon Mobil, which lost almost 10% at the opening. Energy Index Collapses 20%
The International Monetary Fund has called for international coordination to counter the economic impact of coronavirus. The Federal Reserve Bank of New York announced an increase in daily injections of cash into the financial markets by $ 50-150 billion to increase market liquidity.
As we reported earlier, Due to the disruption of the OPEC + agreement, Saudi Arabia intends to increase oil production in April 2020 to 12 million barrels per day, which led to a sharp decrease in its cost and a drop in European stock markets.