Bloodbath on World Markets: Oil Prices See the Biggest Plunge Since the Gulf War in 1991 as Dow Set to Open 1,000 Points Lower While Coronavirus Panic Wipes £130Billion Off London Markets with FTSE 100 Falling 8.5 Per Cent

• Bloodbath on World Markets: Oil Prices See the Biggest Plunge Since the Gulf War in 1991 as Dow Set to Open 1,000 Points Lower While Coronavirus Panic Wipes £130Billion Off London Markets with FTSE 100 Falling 8.5 Per Cent
  by MARLENE LENTHANG FOR DAILYMAIL.COM, https://www.dailymail.co.uk/
  * Global oil markets plunged on Sunday amid an oil price war, marking the greatest tumble since the Gulf War in 1991
  * While futures on the Dow sank 1,000 points, S&P 500 future and Nasdaq Composite futures lost more than 3% of their value
  * Brent Crude sunk 30% to $31.02 a barrel while West Texas Intermediate Crude dropped 27% to $30 a barrel
  * The 10-year Treasury yield broke below 0.5 percent for the first time ever
  * Oil demand has sunk due to coronavirus panic and reduced global travel
  * Talks between the Organization of Petroleum Exporting Countries alliance (OPEC) and Russia collapsed on Friday, triggering price bidding war
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  Oil prices suffered the biggest plunge since the Gulf War in 1991 over the weekend, leading the Dow Jones Industrial Average to open down 1,000 points while the UK’s FTSE 100 fell 550 points on opening as coronavirus fears shake global markets. Crude oil prices plummeted 30 percent in a trade war between Saudi Arabia and Russia sparked by the virus.  While stock futures on the Dow sank 1,000 points, S&P 500 futures and Nasdaq Composite futures lost more than four percent of their value. The drastic plunge triggered circuit breakers on CME contracts on Sunday night to stop prices from falling even  further. 
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