Coronavirus: Economic fallout intensifies with crashing oil prices | DW News

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The economic consequences of the coronavirus epidemic have sparked a conflict among major oil-producing nations. Last week, oil producers were unable to agree on a reduction in production volumes, resulting in a price war between OPEC and Russia. That has sent oil prices plummeting. The price of oil collapsed by 31.5 percent at the start of trading, the lowest price since January 1991.
As a reaction, stock markets fell sharply this Monday: In Tokyo, the Nikkei Index lost more than 5 percent, while the Hang Seng in Hong Kong fell almost 4 percent. Australia’s ASX Index fell particularly hard with a minus of 7.3 percent and in Germany, the DAX tumbled almost 8 percent at the start of trading. The picture around the Gulf is even more dramatic – markets have shed up to around 10% there.
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33 COMMENTS

  1. Theres higher numbers in thr millions of ppl dying from other communicable diseases over 41 million from aids but THIS is a pandemic?? Lol the gov and bill gates is doing this big pharmsa n financial sector run by bill gates want to join
    We wre guinny pigs n useless eaters bye

  8. No more so called free market, neoliberal finance and economics ! We need to get back on the road of mixed economies : part private(market based) without the ideology and part social (public) without the ideology . The health and well being of we the majority, the everyday people of the world must have the upper hand ! if not , as has always been the case in modern history , there will be another great depression followed by war . if we do not nationalize all vital goods and services now , none of us is going to survive .

  11. Timing at its best then those less intelligence people blame on Covid19 and China and those people are those running the false systems they know nothing about.

  12. Good thing is the Corona hoax will get the interest rates down and before elections everything will be fine. Amazing how they can push this lie so easily.The best is yet to come. Th globalists will be punished for their evil.

  14. Holy blink much?

    Gas prices dropped almost .37 cents a liter over night in my town in Ontario Canada . Now let's hope the (and I use the term loosely) prime minister will start acting and stop ppl coming in from infected countries.

  19. The girl using shades fails to understand how "infectious virus" with "thousands of people crowded in a plaza" are disastrous and dangerous. This kind of individual needs the Darwin test lest they be allowed to reproduce idiocy into the populace.

  20. No Doc . . .let's not 'ease' the misinformation out. It needs to be stopped in it's tracks, immediately. But when a profession's mantra is, 'if it bleeds, it leads', the odds of that happening are somewhere between slim and fugetaboutit. To refer to the existing manor of journalism a profession is just a bad joke. To call the information we are being fed hyperbole is in and of itself, hyperbolic.

  22. But what about all the other companies making a killing off the virus? Food supplies, water, water containers, sanitisers, face masks, medical supplies exct exct lots of these items have went up in price to a rediculous level. I think the Dow is misrepresenting the facts. Lots of huge global companies own lots of other companies. Huge money is being made of this virus.

  26. “We are just days away from a cure for Covid-19” All is well and OK !!- Gov’t. 🤥🤥🤥🤥 also “ The stock market will totally recover by this Friday” 🤥🤥🤥🤥. “ There is NO problem man cannot solve”- liars too 🤥🤥🤥🤥

  30. How can the guest say oil is the lifeblood? It's going to kill us all. Rather have Greta on the show. The house is on fire because of fossil fuels and animal agriculture.

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