Global stocks tumble and oil prices collapse as investors panick over the expected damage of the coronavirus to global economic growth
A pedestrian walks past quotation boards displaying a share price of the Tokyo Stock Exchange and numbers of New York Dow in Tokyo on March 6, 2020. Tokyo stocks opened lower on March 6 as worries reintensified over the spread of the new coronavirus with health officials warning many countries were not doing enough to fight the outbreak.
At the close of trade, the Paris stock market was down by 4.1 percent, Frankfurt dived 3.4 percent, London shed 3.5 percent and Milan tumbled 3.7 percent in a fierce global markets selloff that began about two weeks ago. "The stimulus-led rebound in global stocks has been short-lived, with fears over an escalation of the coronavirus crisis providing yet another bout of selling across European markets."
"With the economic impact of coronavirus large and rising, policymakers in advanced economies are being forced to react," said economist Adam Slater at research group Oxford Economics.
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