Black Monday in the markets: Oil hits now after Corona

Global stock exchanges have fallen sharply as investors worried that the corona virus epidemic will cause destruction in the economy, ascending from risky markets such as stocks, oil prices have fallen sharply.
It fell close to 30 percent after reducing sales prices.

While the US Federal Reserve (Fed), whose interest rates were reduced by 50 basis points with an extraordinary decision a few days ago, on March 18, will have to cut another 75 basis points, the interest rate of the US 30-year bond is below 1 percent, The interest rate of the 10-year bond was below 0.5 percent for the first time.

GREAT DECREASE IN SHARE MARKETS

The wave of sales in exchanges started with Asian exchanges. In Japan, the Nikkei index fell 5.07 percent and the Topix index fell 5.61 percent. While the decrease in Hong Kong Hang Seng index was 4.32 percent, losses in Shanghai stock exchange in China reached 3.42 percent.

In Australia, the S & P / ASX 200 index fell by 7.33 percent.

European stock markets were opened with a sharp decline. As of 12.08, the Euro Stoxx 50 index, which follows the 50 largest shares of Europe, is 6.6 percent negative. Losses to the German Dax index are at 6.4 percent. Loss in Madrid stock exchange (Ibex 35) exceeds 7 percent, while loss in Paris stock exchange (Cac 40) is over 4 percent. The loss in FTSE 100 index also exceeded 7 percent in London.

As of 12.08, BIST 100 index has lost 3.3 percent in Borsa Istanbul. The dollar / TL, which was traded below 6.10 on Friday, is trading just under 6.15 this morning after rising up to 6.20 in the nighttime with the sharp losses in global stock markets and oil prices.

LOSS OF VALUE IN CURRENCY

While the Japanese yen gained more than 3 percent of the currencies accepted as safe haven, the currencies of developing countries such as Russia and Mexico, whose economy was based on oil income, fell by 6 percent and 5 percent, respectively.

GOLDEN ONU HAS SEEN $ 1700

Gold prices are above $ 1,700 for the first time in more than seven years, with investors worried that the outbreak of global exchanges will cause destruction in the economy, leaving risky markets such as stocks and taking shelter in safe harbor assets.
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The gold ounce price in the spot market is at $ 1675 as of 11.30, after seeing the highest level since December 2, with $ 1.702.56 in transactions at the beginning of the session.

The price of gold in Turkey in grams per 331 levels.

BLACK DAYS OF EXCHANGE HISTORY

In the history of the stock market during the great depression in 1929, the “black tuesday” in the New York stock market in the USA and the index fell by 11 percent. In 1987, this time, “black monday” was experienced and the index was the biggest stock market crash in history with a decrease of 22.6 percent in one day.

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