Global markets plunge as investors fear ‘cataclysmic recession’

Wall Street suffers worst day since 1987 despite efforts to steady financial markets

Traders on the floor of the New York Stock Exchange (NYSE)
Traders at work on the floor of the New York Stock Exchange (NYSE)
(Image credit: Drew Angerer/Getty Images)

Stock markets sunk yesterday despite central banks announcing a co-ordinated effort to ease the effects of the coronavirus.

London’s FTSE 100 index dropped more than 4%, with other major European markets also suffering declines.

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