Home / Insurance Tips / Global markets lick wounds after torrid two days that wiped trillions of dollars off stocks

Global markets lick wounds after torrid two days that wiped trillions of dollars off stocks

 World shares and oil prices held steady at multi-year lows today but nerves are fragile and risk appetites low.

LONDON – A bounce in European shares, a tentative stabilization in oil and soothing sounds from ECB head Mario Draghi helped steady global markets on Thursday, after a torrid couple of days which has wiped trillions of dollars off asset values.

A 3-per cent slump in Chinese stocks had given Asia another bruising, there was relief like a more than 1 percent jump for London’s FTSE, Germany’s DAX and France’s CAC 40 as Draghi hinted at more rate cuts, pulled markets from their nosedive.

Draghi said the dramatic slump in oil and stocks prices this month had compounded the potential risks to the eurozone economy and that it would “review” its already record low interest and 1.5 trillion euro money printing program at its March meeting.

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