World markets dip as recession fears eclipse stimulus | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN – News of Bahrain- DT News

World markets dip as recession fears eclipse stimulus | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN – News of Bahrain- DT News

World markets dip as recession fears eclipse stimulus. On Wall Street, the Dow Jones Industrial Average was hit by another loss of over 1,000 points to fall below the 20,000-point level despite authorities in the US and elsewhere moving forward with more measures to prop up the economy.. Trading was suspended just before 1700 GMT due to the steep losses.. World oil prices spiralled lower on energy demand woes, with New York's WTI crude plunging almost 18 pc and Brent tumbling nearly 12 pc to prices unseen in nearly two decades.. Massive shock' most market commentators agree that the virus-wracked world economy will likely plunge into recession -- which means a minimum of two successive quarters of economic contraction.. "From what we see from the markets' reaction, massive monetary and fiscal measures deployed are not thought to be enough to prevent economies from plunging into recession," Swissquote Bank analyst Ipek Ozkardeskaya told AFP.. There is already a massive shock in activity and demand, which almost guarantees a worldwide recession regardless of the measures taken by central banks and governments," Ozkardeskaya added.. "The Fed have taken their tough medicine by slashing rates to almost zero, so the central bank is likely