World share prices skidded Tuesday after the price of U.S. crude oil plunged below zero, with demand collapsing as the coronavirus pandemic leaves factories, automobiles and airplanes idled.
The extreme volatility in energy markets highlighted investors’ broad concerns about the duration of the pandemic and its impact on the economy, weighing on financial markets more broadly.
In Europe, Germany’s DAX stock index lost 2.4 per cent to 10,420 and the CAC 40 in France shed 2.2 per cent to 4,428. Britain’s FTSE 100 declined 1.7 per cent to 5,714.
Wall Street looked set for losses, with the future contract for the S&P 500 down 1.3 per cent, while the contract for the Dow industrials lost 1.7 per cent.