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Seven Days: 13 March 2020

Seven Days: 13 March 2020
AP Photo/Ted Shaffrey | Porter disinfects a railing at the New York Stock Exchange on Monday amid coronavirus fears

Black Monday sell-off

Oil prices and coronavirus

As explored in our news pages this week, markets endured their worst falls since the financial crisis on 9 March – a day referred to as ‘Black Monday’. It was, ostensibly, a perfect storm: shares were already enduring a torrid time amid the growing coronavirus outbreak – and then the oil price plunged, as the prospect of a dispute between Saudi Arabia and Russia loomed. In the US, the major stock indices fell so fast and so steeply that they triggered an automatic ‘circuit breaker’, suspending trading for 15 minutes.

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