BUSINESS

Stocks And Oil Prices Tumble

Global equity markets and government debt yields took a downward path last week amidst growing concerns about the impact of the coronavirus.

This move comes against strong job growth in the U.S. economy.

Stocks on Wall Street tumbled from record highs and the safe-haven Japanese yen rose as investors weighed how much the virus is likely to disrupt supply chains as China accounts for one-third of global growth.

Oil prices slipped as Russia said it would need more time before committing to output cuts along with the Organization of the Petroleum Exporting Countries and other producers amid falling demand for crude.

Nigel Bell, Readers Bureau, Fellow

Edited by Jesus Chan

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