Oil massacre chases investors to bonds on world markets
Risk-averse mood offsets news on $484bn in fresh relief for the US economy and hospitals
22 April 2020 - 07:45
Washington/Tokyo — Asian share markets slipped to two-week lows on Wednesday as the floor fell out from under crude prices, exposing the deep economic damage wrought by the global coronavirus health crisis.
Skittish investors sought the safety of government debt as Brent oil futures plunged for a second day to a low last seen almost two decades ago, fuelled by a swelling world crude glut. The dizzying dive in oil has turned investors away from stocks, and has given fresh urgency to bearish voices who are bracing for a catastrophic decline in asset prices as the Covid-19 pandemic wrecks the world economy...
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