Markets slide again on fear of long, global lockdown

Markets slide again on fear of long, global lockdown

Stock markets in Europe and Asia fell again Monday on growing fears that the global economy faces a prolonged shutdown.

Julian Satterthwaite reports.

The streets of Tokyo are going quiet as residents bet it could be the next big city to face a lockdown.

Such scenes are now familiar worldwide, and they're making investors increasingly fearful.

Stock markets all round Asia sank again Monday (March 30) on concern the global economy could face a prolonged shutdown.

Japan's Nikkei index was worst hit, closing down over 1.5%.

The gloom then spread into the European open.

Major indexes there were all down in early trade, with France's Cac-40 leading the way lower.

It was off over 3% in the first hour before recovering some ground.

Shares in banks including BNP Paribas and ING took a hammering, down 8% or more.

They're among lenders to heed calls from the ECB to suspend dividend payments.

The central bank wants them to hold onto what cash they can.

Oil stocks also down again after crude prices took a fresh tumble.

International benchmark Brent was down as much as 8% early Monday, to around 23 dollars a barrel.

It was about three times that price when the year began.