Global stocks fell on Monday, despite the extraordinary measures of the US Federal reserve to combat the economic slowdown.
On Monday, European markets opened lower by more than 4 percent, and then in the morning fell more than 8 percent. The main stock index of France briefly fell 10 percent.
The grim discovery followed a difficult day for Asian markets, where sentiment has deteriorated even during the day. Australia led to a fall in the region with a 9.7-percent drop in the stock index S & P / ASX 200, dropping it to around 30 percent compared to the high of last month.
The fed cut interest rates almost to zero and said it will buy hundreds of billions of dollars of public debt that is reminiscent of her actions during the financial crisis in 2008.
Central Bank actions aimed at supporting the economy from the rapid spread of the coronavirus. But financial markets remained in a panic.
In Europe the French CAC 40 opened nearly 5 percent lower, then fell by as much as 10 percent, before trading more than 9 percent. In early trading London’s FTSE 100 index and the German DAX fell more than 8 percent.
Asian markets started the day mixed, before turning back. In Japan the Nikkei 225 index dropped 2.5%. In China, the Shanghai Composite index fell by 3.4 percent. Index South Korea Kospi fell 3.2 percent in after-hours trading the country’s Central Bank lowered its key base rate on loans.
Hong Kong dropped 4.2 percent in late trading.