Coronavirus Hits World Stock Markets

The rise in the spread of the coronavirus (COVID-19) has increased investors apathy, leading to the fall in stock indexes of major economies.

Trade on the world largest bourse, the New York Stock Exchange, shows that three main indexes in the US have depreciated by 3%.

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In the UK, the Financial Times Stock Exchange (FTSE) 100 share indexed also dipped by 3.7%, while in Italy, the Milan Stock Exchanged witnessed a fall by 6%.

Italy is the European country with the worst outbreak of the COVID-19 as it has recorded 6 death cases.

Meanwhile, Monday trading session in the Nigerian Stock Exchange ended with a fall in the All-Share Index down to 127bps to 27,041.03, consequently the Year to Date return fell to 0.7%, while market capitalisation also dropped by N181 billion to end at N14, 087.2 trillion.

The price of gold in contrast rose by over 2%, a record of $1,688, which is the highest since January 2013.

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China has recorded 77,000 infected cases of the COVID-19, while 2600 lives had been lost.

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