LONDON: Stock markets and oil prices continued to nose-dive on Monday after the second emergency cut in U.S. interest rates in as many weeks -- effectively to zero -- and supportive measures from all corners failed to quell coronavirus fears.
The drastic manoeuvres were aimed at cushioning the economic impact as the breakneck spread of the coronavirus all but shut down more countries, but they did little to calm panicky investors worried about firms surviving a prolonged recession.
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