AIIQ - Could The Surge In Market Volatility Signal The End Of The Current Market Cycle?
By Kristina Hooper, Chief Global Market Strategist and Brian Levitt
Global Market Strategist, North America
Weekly Market Compass: Markets sell-off over continued coronavirus concerns and new pressure on oil pricing.
Last Friday, Russia surprised markets by refusing the production cuts the rest of OPEC+ supported - cuts that were needed to stabilize oil prices in the face of the coronavirus-related hit to global demand. Saudi Arabia responded over the weekend by announcing an actual increase in oil production. This comes on the heels of an announcement by Italy effectively shutting down the country.