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Global Stocks Plummet Again In Worst Week Since 2008 Financial Crisis

Global Stocks Plummet Again In Worst Week Since 2008 Financial Crisis

Submitted by • February 28, 2020 coronanewstoday.com

Corono News Today - Read Latest News about Corona Virus or china coronavirus at Coronanewstoday. Want to know its impact on China, USA, South Korea, India, Diamond Princess & many more countries? View More.Global stocks are on track for their worst week since the global financial crisis, as coronavirus fears have pushed markets down for a seventh consecutive day.

The MSCI index, which tracks shares in many of the world’s biggest companies, has fallen 8.9% — its worst percentage decline since October 2008.

European stocks suffered significant losses in early trading Friday, with Germany’s DAX, dropping as much as 5% in early trading and London’s FTSE 100 shedding 4.4%. In Italy, where 17 people have now died as a result of the virus, the benchmark FTSE MIB index was down nearly 4%.

China’s Shanghai Composite closed down 3.7%, bringing losses for the week to 5.6%, the index’s worst performance since April 2019. Japan’s Nikkei ended down 3.7% and benchmark indexes in Australia.

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