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Coronavirus live update: Global stock shows record volatility

Komal FatimaWeb Editor

17th Mar, 2020. 12:52 pm
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PSX update today 8th April 2020

Global stock markets have shown record levels of volatility as the five biggest one-day points reported in less than a month.

The Dow Jones Industrial Average saw its biggest one-day slide in more than 3 decades on Monday.

This was the latest difference observed in the global stock market as investors fear coronavirus may disturb the economy.

It happened as a key measure of stock market volatility, called “Fear Gauge” has surged to high.

International news agency BBC reported that Asian shares continued to see volatile trading on Tuesday with markets in Tokyo, Hong Kong, and Shanghai swinging between losses and gains. At the same time, US stock index futures indicated a positive open for Wall Street.

On Monday financial markets slumped, with the Dow losing close to 13% and the S&P 500 falling almost 12%, marking the biggest one-day falls for both indexes since “Black Monday” in 1987.

That followed the US Federal Reserve making another emergency rate cut on Sunday, prompting central banks around the world to ease policy in the biggest coordinated response since the global financial crisis more than a decade ago.

Investors fear that the world’s central banks have used most of their ammunition to deal with the economic consequences of coronavirus.

Monday’s stock market falls follow US indexes on Friday seeing their biggest daily gains since October 2008. That came just a day after the Dow suffered what was then its biggest one-day plunge since the crash in October 1987.

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