Stocks Rebound Fizzles Out Os Virus Response Disappoints
March 10, 2020
5:49 pm
A rebound in global stocks following their biggest one-day drop in more than a decade fizzled out Tuesday as hoped-for action to inoculate the economy from a coronavirus-induced recession failed to materialize.
Meanwhile oil prices jumped more than seven percent, having plunged by a third the previous day, in the biggest price swing since the 1991 Gulf War, as Russia reached out to Saudi Arabia, possibly in a bid to mitigate an oil price war.
Global stock markets collapsed on what has become known as “Black Monday”, with the Dow on Wall Street plunging more than 2,000 points, as a …
