Coronavirus Sends Global Stocks Plunging

Posted on February 24, 2020 7:45 am

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The economic effects of the deadly coronavirus sent global stock and oil prices plunging Monday, while the infectious disease forced China to postpone its annual legislative session and posed new health threats across the world.

Key stock indexes in the U.S. plummeted about 2.5% in early trading in New York, following sharper losses in European markets and more modest drops at Asia’s top exchanges.

Brent crude, the global oil benchmark, dropped more than 4% to $55.60 a barrel, its biggest decline in almost five months. Gold prices, meanwhile, rose 2.4% to more than $1,689 an ounce, its highest price in more than