Markets snapshot: Oil wreck, bear stocks, rouble trouble

LONDON (Reuters) – A massive oil price collapse overnight and the fast-spreading coronavirus has led to wild price swings across global financial markets on Monday, with some moves as great as 25%.

Those moves came as Saudi Arabia launched a price war with Russia, sending investors already panicked by the coronavirus fleeing for safety.

When was the last time oil giants such as BP (L:) and Shell (L:) shed one-fourth of their value? Never.

The list below highlights some of the biggest price moves and their significance:

** Brent crude () fell as much as 31.4%, the biggest daily drop since the first Gulf War

** The yield on 10-year U.S. Treasuries () fell further to a record low of 0.4624%, having halved in just three sessions

** With swings in yield, markets are now fully pricing in a rate cut of 75 basis points by the Federal Reserve on March 18

** The 10-year Bund yield fell to a record low of -0.863% ()

** U.S. stock futures plunged 5% to hit their daily down limit and halt trading

** London’s FTSE 100 () shed 8.4% a few minutes after the open in its worst single-day drop since the financial crisis

** London-listed Shell plunged 23% and BP 29% in their worst-ever intraday rout

** The Russian rouble is down over 8%, on track for its worst drop since December 2014, also when oil prices plunged

** The dollar extended its slide in Asia to as low as 102.60 yen , depths not seen since late 2016

** Emerging-market stocks () dropped over 4% and the world’s biggest listed entity, Saudi Aramco (SE:), traded below its IPO price for the first time

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