Monday September 21, 2020

Ian Guider: The $3tn wipeout that shook the world’s stock markets

The huge drop, equivalent to the entire annual output of India’s economy, conveys the widespread fear that the coronavirus could wreak havoc on an already shaky global economy

Ian Guider

Markets Editor

1st March, 2020
That $3 trillion wipeout is the equivalent of the entire annual output of the Indian economy

By late Thursday afternoon, the sea of red on trading screens across the world showed that $3 trillion had been wiped from the value of global stock markets as the rout prompted by the coronavirus gathered pace.

That $3 trillion wipeout is the equivalent of the entire annual output of the Indian economy, giving an indication of the scale of fears that the spread of the virus could wreak on the global economy. To put the...

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