March 10, 2020

Saudi Arabia is throwing a tantrum, and the fallout is unleashing some crisis-era deja vu on United States stock markets.

After the kingdom slashed what it charges for a barrel of oil in retaliation for Russia's refusal to support a dramatic cut in crude production, oil prices cratered on Monday, dragging down stocks to their worst one-day performance since 2008 and further pummelling investor confidence, already bludgeoned by the widening coronavirus outbreak.

Fear of a looming credit crunch only served to further compound investor fears.

Read more:

https://www.aljazeera.com/ajimpact/dow-tanks-2000-points-worst-day-2008-crisis-200309193604633.html