Economists are often sceptical about sudden stock market setbacks. The best that can be hoped for is that Covid-19 is contained rapidly in the first two quarters of the year and that the UK and global markets and economies then smartly bounce back. It means the FTSE has slumped into a 'bear market', falling by more than 20 per cent from its previous peak. As panic selling spread through global markets, trading was suspended on Wall Street for 15 minutes after American index S&P 500 plummeted within minutes of opening. But Chris Rupkey, MUFG Union Bank's chief financial economist said: 'This doesn't seem to cushion the blow for stock market investors'.

Source: Daily Mail March 09, 2020 22:04 UTC