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Friday, May 14, 2021

Global stock markets have lost nearly $6 trillion as coronavirus spreads

The largest weekly stock market rout since the 2008 financial crisis has been triggered by the spreading of the Covid-19 virus.

This sell-off has wiped out $6 trillion in value from the global markets in the last six days.

US stock markets lost $4 trillion of its value in the same period.

As travel plans and conferences have been cancelled as well as the grounding of flights, economists are beginning to slash their forecasts for company earnings and economic growth.

More losses are to be expected on Friday.

-Sam Fitzsimons

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