Global stock markets surge after weeks of losses
March 25, 2020 11:56 am
The increases follow weeks of losses driven by a global economic slowdown. [Source: BBC]
There was further financial turbulence on Tuesday when stock markets around the world climbed sharply higher, as investors grappled with the economic impact of the coronavirus.
In the US, the Dow Jones Industrial Average rose 11.4% – its biggest daily gain since 1933.
The S&P 500 and London’s FTSE 100 enjoyed their best days since the 2008 financial crisis, rising more than 9%.
The increases follow weeks of losses driven by a global economic slowdown.
Business activity in the US and eurozone sank to the lowest level on record in March, according to survey data from IHS Markit, as authorities closed schools, shut businesses and limited travel in an effort to slow the spread of the virus.