Global stock markets bounce back on US stimulus hopes – Gulf Today

Global stock markets bounce back on US stimulus hopes – Gulf Today

European and US stocks and oil prices recovered on Friday on US stimulus hopes, after Asian equities experienced wild swings, with traders closing out a week of carnage for world markets as the coronavirus pandemic fuels fears of a global recession.. "In mere weeks, the market has shifted gears from a transitory health scare to a full-blown global recession," said AxiCorp market strategist Stephen Innes.. Oil prices, which have also been ravaged this week, were up more than four per cent on Friday.. Markets have been shaken by an oil price war between Saudi Arabia and Russia, compounded by fears that travel restrictions will further dampen energy demand.. On currency markets Friday, the dollar hit a record-high against the Indian rupee.. Spot gold, which dropped by as much as 4.5% on Thursday, was up 0.9% to $1,590.96 per ounce by 1224 GMT on Friday..