The stock exchange collapsed when it opened on Monday morning - as more bad news about coronavirus coupled with the fallout from an argument between Russia and Saudi Arabia over oil prices.
The result was one of the biggest one-day falls in the price of a barrel of oil for 20 years, while the FTSE 100 index of the UK's biggest companies had billions wiped off its value.
Ayush Ansal, chief investment officer at Crimson Black Capital, said: "The markets have passed from panic mode into pure hysteria...
Any positive news around the coronavirus is being ignored outright, while negative developments are being catastrophised." Ipek Ozkardeskaya, senior analyst at Swissquote Bank, added: “Russia punched investors in the face…Oil crashed more than
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