Feb 28 (Lagos) - Stock markets in USA witnessed a day of constant selling due to a fear of a global epidemic of coronavirus covid-19 virus.
Dow Jones fell 1200 points, first time since the financial crisis of 2009. S&P500 and NASDOQ declined more than 4% each.
Crude oil futures declined more than 4% in New York before recovering some of those losses. Analysts expect a slump of demand from China due to the virus and the effect it is having on business.
US state of California announced that they are monitoring thousands of cases. Thats what led to the sell of in US markets. Canada also said they are investigating multiple people for the virus.
As the last trading day of a brutal week we could see more of the same.
NSE in Lagos was also affected by the declining crude oil prices and declined 0.62% today in between increase in insecurity.
reporting for easykobo.com on Thursday, Feb 28 2020 from Lagos, Nigeria