By Graeme Wearden and Dominic Rushe
Rolling coverage of the latest economic and financial news, as shares fall sharply again across the globe
- Boeing’s credit rating cut
- Latest: Australian market could fall 4% on Tuesday
- Wall Street has plunged 12% as virus worries mount
- Trump: May be heading into recession
- Coronavirus – latest updates
- See all our coronavirus coverage
- Federal Reserve cuts interest rates to near zero
10.44pm GMT
Oz down under
Stock markets open in Australia shortly and it looks likely there will be another sell off after today’s rout in the US and Europe. Australia has avoided recession for three decades but Covid 19 could end that run.
Pretty clear Australians are realising the economy may fall into recession for the first time in ~30 years.
Near-term economic sentiment plunged further last week, according to the ANZ-RM survey.
Measure over the past 3 weeks:
-9.3%
-8%
-16.6%#ausbiz #auspol pic.twitter.com/zaWeVfcyVr
10.26pm GMT
McDonalds closes golden arches
It’s Big Mac to go for the foreseeable future. The burger chain has become the latest fast food merchant to announce it is closing all seating areas, effective at the close of business today.
Source: Wall Street suffers worst day since 1987 as recession fears grow – business live
Category: Business, UK news, Stock markets, FTSE, Federal Reserve, US economy
