Published: March 16, 2020
Sharp losses recorded after US interest rate cut, as Bank of England hints at further support to combat turmoil
The Dow Jones index suffered its biggest ever one-day points loss on Monday and the FTSE hit an eight-year low as markets were gripped by mounting concerns over the threat of a global recession, despite a coordinated effort by central banks to protect growth and jobs.
In an escalation of the worst turmoil since the 2008 financial crisis, stock markets suffered further sharp losses on Monday despite dramatic action taken by the US central bank late on Sunday in an attempt to limit the economic impact of the coronavirus pandemic.
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