Stocks rout resumes as pandemic deepens recession fears
JOHANNESBURG – Emerging-market shares tumbled on Monday, with Indian shares diving 12%, as coronavirus lockdowns around the world raised fears of a global recession.
MSCI’s index of emerging-market shares slumped 4.7% to near their lowest in four years, wiping out almost all of Friday’s gains. The index is down about 31% this year, in what could be its worst year since it lost 54% during the financial crisis in 2008.
The virus has so far claimed more than 14,000 lives and infected over 300,000 people globally. Containment efforts are bringing large parts of the world to a standstill.
Source: iol.co.za
