Tuesday, 16 March 2021

black monday ii

With fiscal stimulus packages, interest rate cuts and quantitative easing announced the previous weekend unable to effectively stop the decline in global stock markets or restore confidence in future economic recovery, indices continued to repel to a new nadir on this day in 2020, triggering circuit breakers in place to suspend trading and control the crash and make for a less damaging landing. Worldwide, considering the amount of inherent precarity in terms of job security and the precipitous drop in consumption, travel and leisure activities it seems rather light, stock shares fell by a third, losing a percentile of value per day since the last week of February.