The Spanish stock exchange has reported the biggest losses since Brexit. At the close of play this afternoon, Spain’s IBEX registered losses of 7.96%. However, it wasn’t the only market to have suffered today – a day that will go down in history as ‘Black Monday’.
Stock markets around the world plunged. Wall St saw losses of around 5%, Tokyo’s Nikkei dropped around 5% and Australia’s ASX also slumped 7.3% – its biggest drop since 2008. The picture was similar across European markets, with Milan’s stock exchange suffering the biggest losses of all at around 11.17%.
Stocks dived today worldwide after Wall St was obligated to shut down for 15 minutes to prevent ‘panic’ selling. The dramatic declines experienced by stock markets today were actually triggered by a row between Saudi Arabia and Russia over ‘oil output’, which caused the markets to panic. So this time round, the Coronavirus isn’t the only issue causing the current nervousness and losses in the stock markets.