India yesterday reported its first Coronavirus-linked death with the number of positive cases soaring to 78. Globally, over 134,670 cases have been reported worldwide with total deaths crossing 4,973.
Reacting to the rapid spread of the virus, all three major US stock indexes went into a tailspin overnight, with the S&P 500 and the Nasdaq confirming their first bear market since the financial crisis. The blue-chip Dow suffered its worst one-day loss since October 1987’s “Black Monday.”
In Europe, major bourses fell by double-digit percentages for their biggest daily losses on record, led by a 17 per cent slide in Italian stocks. Stimulus efforts from the European Central Bank did little to calm nerves.