Global stock markets recorded the worst performance in the past week since the global financial crisis in 2008, and observers described it as the Black Week, as panic dominated financial markets in light of fears of repercussions. Corona virus spread to the economy.
According to Al-Bayan, global stocks, which lost nearly $ 6 trillion in value last week, are heading for the worst weekly loss since 2008. The losses incurred by European stocks since last Friday by 12-13% are the largest since 2008. p>
The US stocks fear index rose to the highest level since the August 2011 crash, and the VIX index, which is used to monitor volatility in US markets, rose to 39.2 points by the end of Thursday's session, which represents an increase of 27.6 points from the day before.
With that, the index tends to record the second largest weekly rise in its history, after rising by 22.1% in this week’s sessions.
The sharp volatility in the index comes with sharp losses on Wall Street, where Dow Jones lost more than 3,200 points in trading last week. Global stock markets are witnessing in general a sharp selling wave, where the MSCI World Equity Index is heading for losses of about 9%, which would be the worst weekly performance since 2008.
US stocks fell sharply yesterday, as investors dumped stocks. The Dow Jones fell 495.81 points, or 1.92%, to open at 25,270.83 points, the Standard & Poor's 500 Index fell 61.86 points, or 2.08%, to record 2916.90 points, and the Nasdaq index fell 296.74 points, or 3.46%, to 8269.74 points.
European shares fell 3% yesterday, and the European Stoxx 600 index is heading towards its biggest weekly decline since 2008, Japanese stocks tumbled in heavy volume transactions, to their lowest level in nearly 6 months, and the Nikkei index fell 3.7% to 21142.96 points, the lowest closing level since the fifth From September.
Bank of America said: Global equity funds have recorded massive exits of $ 20 billion, as investors sell high-risk assets due to concerns that the Corona virus may trigger a global recession.
