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Global Stocks Plunge Amid Oil Crash and Coronavirus Fear

Video Credit: Wibbitz Top Stories - Duration: 00:59s - Published
Global Stocks Plunge Amid Oil Crash and Coronavirus Fear

Global Stocks Plunge Amid Oil Crash and Coronavirus Fear

Global Stocks Plunge Amid Oil Crash and Coronavirus Fear Global markets are taking a hit after a failed deal between OPEC and Russia led to the worst one-day crash in crude in decades.

Saudi Arabia set off panic within oil markets by launching a price war.

The Saudis are reacting to Russia's refusal to meet OPEC's efforts to rescue the oil market after a panic caused by the coronavirus outbreak.

The S&P 500 (SPX) opened 6.9% lower.

The Dow (INDU) fell more than 1,800 points and the Nasdaq Composite (COMP) was down 7.1%.

The impact of the coronavirus has weighed heavily on investors as the number of confirmed cases continues to rise.


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