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Global stock markets continued their bear run as Dow Jones and S&P500 plunged as they opened on Monday. The plunge was largely on the back of the 30 percent overnight slump in crude oil prices, along with the persistent concerns over the impact of coronavirus on the global economy.
Trading has resumed in the indices and currently the Dow Jones Industrial Average was trading at 24,448.02, lower by 1,416.76 points or 5.48 percent from its previous close. The S&P500 is trading at 2,811 points, lower by 161.37 points or 5.43 percent.
The plunge in the energy markets has severely impacted investor sentiments. Energy markets went into a free fall on Monday with oil prices across variants plunging around 30 percent, the biggest fall since the 1991 Gulf War.
Brent crude oil reached as low as $31 per barrel on Monday, falling 30 percent from its previous close.The current crude oil prices are just above the decadal low of $26 a barrel in early 2016 with analysts fearing that it may touch that level soon.
Indian stock markets too witnessed a bloodbath on Monday with the BSE Sensex witnessing the worst single-day fall in over four years. It closed at 35,634.95, lower by 1,941.67 points.
Earlier in the day, it had slumped by over 2,400 points.
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