Wall Street's worst day in two decades, Asian shares plunged as well

Wall Street's worst day in two decades, Asian shares plunged as well

Wall Street also saw a decline in the Asian market after the most severe recession since 1987 where benchmarks of Japan, Thailand, and India were down by 10%.

According to a report by the foreign news agency AP, the reaction was triggered by rising concerns about the Coronavirus and a decline in confidence around the world as the world's largest economy collapsed in the United States.

Trade-in Bangkok and Mumbai were temporarily stopped after a 10% decline in the market; after the restoration of trade, the Thailand SET 100 fell 8.6% and Mumbai's Sensex declined 9.4%. ۔

Losses from the Coronavirus now recovering in China are not as severe as the Shanghai Composite Index fell 3 percent, with losses in most other markets in Asia on Friday, 4 percent to 6 percent.

An overnight sale on Wall Street eliminated major Wall Street gains after President Donald Trump took office.

The S&P 500 dropped 9.5 percent last month after touching its height last month, bringing the total down to 26.7 percent, which formally regulated Wall Street's nearly 11-year-old market run.

On the other hand, the Dow Jones Industrial Average sank 2,532 points, or 10 percent, which is the biggest loss since falling 23 percent on October 19, 1987.

European markets are experiencing the worst of the times and in this, they have had worse days where the market fell 12% in a single day while the European Central Bank also offered to buy more bonds and further support for the economy. Is

IG Combat Pan said in a comment, "Between the lack of a strong US financial response and the latest travel ban for immigrants from Europe to the United States, global markets have been priced into sales.

"The lack of a strong US financial response and the latest travel ban for immigrants from Europe to the United States have attracted global markets to sell everything," said IG's war panic expert at market strategy.

The downturn came as a result of cancellations and shutdowns of events around the world, including the recent suspension of Donald Trump's visit to most of Europe.

The stock business on Wall Street fell so fast at the beginning of the day that it automatically forced the trade to stop for 15 minutes and, which happened for the second time in a week, the procedure was adopted in 1987, however, 1997 Since this system has not been operational till date.

Coronavirus has infected more than 28,000 people worldwide and more than 4,700 people have died due to this, while the death toll has increased to 39 in the US alone and over 300 thousand are affected by it.

On the other hand, the oil market is still recovering after last week's major shock.

Crude oil fell 1.8 percent to $ 30.90 a barrel in the US benchmark, while Brent fell 1.4 percent to $ 32.75 a barrel.

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