$ 170 billion evaporated from the London Stock Exchange within minutes

More than 130 billion pounds (170 billion US dollars) of the London Stock Exchange evaporated in a few minutes on Monday morning, due to the escalation of fears of the spread of Corona virus and the sharp decline in oil prices.

Today, Monday, Britain recorded the fourth death from the virus, which constitutes a state of terror among the country’s population, and the number of people infected with the virus in Britain has risen to 319, so that the past few hours are the fastest record of infections ever since the virus appeared.

All stock indices fell in London, as the main index, “FTSE 100”, which includes the largest and most important 100 companies, closed down by 7.7%, after losing about 500 points to close below six thousand points, hitting its lowest level in years.

During the first minutes of Monday morning, the FTSE 100 index lost more than 130 billion pounds, in one of its harshest losses in years.

British press reports seen by Al Arabiya.net said that oil prices have fallen due to fears that the spread of “Corona” will lead to a weakness in global demand, and that the stock markets have suffered such severe losses after the escalation of fears of the precautionary measures that started the countries of the world By taking it to combat the spread of the virus, including travel restrictions and the closure of some facilities and factories, which could lead to a global economic recession if it continues for a long time.

According to a financial analyst who spoke to a British television channel, “In times of crisis, investors resort to safe havens such as gold and government bonds, which led to a decline in stock markets.”

The global energy companies recorded the worst losses – according to “Al Arabiya Net” – affected by the drop in oil prices, as the British “BP” party fell by 24%, while the German “Shell” lost a fifth of its market value during Monday’s trading session.

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