Stock sell off deepens on corona and oil concerns

Equities plunged today on a dual headwind of Coronavirus concerns and OPEC’s decision not to prop up the oil market with supply cuts. The decision from OPEC surprised investors and prompted the price of oil to fall over 30% as a result. This had a knock-on effect into global equities which served to deepen the Corona induced selloff with some indexes falling to levels not seen since the 2008 financial crisis.