Markets calm down after Monday carnage as crude oil prices jump up 11 per cent
HYDERABAD: Calm returned to markets on Tuesday helped by a coordinated policy response by multiple governments and central bankers. Helpfully, oil prices too surged 10 per cent after shocking the world with the biggest rout in 30 years when prices crashed to USD 30 per barrel on Monday.
Indian markets were closed on account of Holi on Tuesday. US President Donald Trump vowed to take major steps including a payroll tax cut and other financial relief to guard the economy against the impact of coronavirus outbreak, which effectively calmed investors’ nerves.
