Stock markets across the world are witnessing a steep decline on Monday. The main reason for this is the tremendous fall in global oil prices. Along with this, the fall in global oil prices is a major sign of a global economic slowdown. On the other hand, futures prices of crude oil have seen a decline of about 25 percent. On the other hand, due to the rapid spread of Coronavirus outside China, this crisis is getting deeper. The stock markets of the Asia-Pacific region have seen a decline during trading on Monday morning. After this, Europe and Wall Street are also expected to follow it.
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The production cut of 'OPEC Plus', an organization of oil-producing and exporting countries, has failed. After which Saudi Arabia has brought down the price of oil to a low level of more than 30 years. While this decision of Saudi Arabia is seen as an oil war, it is also a big reason for the decline in the stock markets. Nikkei 225 index fell by 5.5 percent in Japan after the economic data was released on Monday morning. Went. According to these economic data, Japan's economy declined 7.1 percent on an annual basis during October-December 2019, which is worse than the initial estimate.
Crude oil prices fall by 30 percent, petrol and diesel prices may decrease
On the other hand, the Hang Seng index of Hankkang was seen trading down by 3.5 percent on Monday. At the same time, the Shanghai Composite Index in China has been shown to trade with a decline of 2.4 percent. South Korea's Kospi also saw a drop of 3.9 percent on Monday. According to a media reporter, the biggest decline in the Asia Pacific region was in Australia, where the S & P / ASX 200 index fell 6.6 percent. The Future Market estimates that Wall Street may also open with a decline of about 5 percent.
