The Great Scare Of 2020
COVID – 14 put the global market in such a crisis that shortly afterwards a shock from the oil supply shook the world. On March 9, 20202, both OPEC leader Saudi Arabia and Russia fought over oil price equalization as demand sinks like a stone amid fears of the corona virusOil prices fell historically and were the lowest since the Gulf War in 1991. US crude oil fell a staggering 34% in one day, with the total falling to its lowest level in nearly three decades.
Price drops across the board
Stock markets also fell overall, with the S&P 500 scoring the most notable hit. While last week saw an impressive 7.4% increase, Monday fell 4.5% in one day, falling only 2736 points. As the markets lose massive trust, trust in the government as a whole also falls. 10 – Money markets of the year in the US saw a drop in yield less than 0.5%. It is the first time in US history.
As one can easily conclude, both public and entrepreneurial feelings have fallen like an anchor. Even Bitcoin, which was more or less “uncorrelated” on the world market, has started to make a massive dump. The world’s best cryptocurrency has lost an astonishing 3% of its value 14. The decline canceled a large part of the profits made in 2020, with the price range around $ 7 2736 at the time of publication.