World markets tumble as recession fears eclipse stimulus


New York (AFP) – Global stock and oil markets plunged Wednesday, as vast stimulus measures failed to offset heightened concerns that the worsening coronavirus outbreak will tip the world into a deep recession. On Wall Street, the Dow Jones Industrial Average was hit by another brutal loss to finish below the 20,000-point level for the first time since 2017 despite authorities in the US and elsewhere moving forward with more measures to prop up the economy.In European trading, both Paris and Frankfurt slumped more than 5.0 percent, while London gave up 4.0 percent, following Asian markets lower…

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