March 9, 2020 / 11:34 AM / 20 days ago

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%.

FILE PHOTO: A well head and drilling rig in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk, Russia, March 11, 2019. REUTERS/Vasily Fedosenko

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 (BP.L) and Shell (RDSa.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

BP, Shell suffer worst intraday rout here

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

10-year German bund yield hits record low here

** The slump in yield signals another round of big rate cuts by global central banks

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

Dollar/yen falls to lowest since late 2016 here

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

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

British stocks suffer worst one day fall since financial crisis here

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

10-year UST yield hits record low here

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

Rouble on track for biggest daily drop since December 2014 here

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

EM stocks drop 4% here

** Emerging-market stocks .MSCIEF dropped over 4% and the world’s biggest listed entity, Saudi Aramco (2222.SE), traded below its IPO price for the first time

Brent crude suffers biggest daily drop since first Gulf War here

Reporting by Thyagaraju Adinarayan and Ritvik Carvalho, additional reporting by Marc Jones in London; editing by Larry King

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