LONDON - Stock markets worldwide suffered significant losses in the first quarter of 2020 as economies battle to contain the impact of the coronavirus (Covid-19) pandemic.
As reported by the BBC, the Dow Jones Industrial Average and the FTSE 100 plummeted 23% and 25% respectively in Q1—their biggest quarterly drops since 1987, while the S&P 500 fell 20%, its worst since 2008.
As previously reported by IDNFinancials.com, recently International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that the world has entered a global recession “as bad or worse” than the 2008 global financial crisis as most major economic activities have come to a halt due to the pandemic.
“We remain very concerned about the negative outlook for global growth in 2020 and in particular about the strain a downturn would have on emerging markets and low income countries,” said Ms Georgieva on Tuesday (31/3). (MS)