Bitcoin and other cryptos’ prices dropped soon after a plunge in oil prices. Besides, Bitcoin lost its positions as a result of a crypto scam committed by PlusToken.
Aramco shares fell below its IPO price level for the first time on Sunday. Other Saudi stock markets like Tadawul, Abu Dhabi Index, also fell caused by the OPEC-Russia deal gone sour on Friday.
Brent crude has plunged nearly 31%, dropping to $31.02 per barrel with the year-to-date crude price dropping by 50%. The U.S. benchmark commodity is witnessing its worst day in almost the last three decades since January 17, 1991.
Ireland, Switzerland and Austria generate most of the coronavirus related requests in Europe. They want to know how coronavirus impacts Bitcoin price. The situation looks like both Bitcoin and coronavirus turn out to be risky, yet very profitable investment bet.
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As crude prices went tumbling down, OPEC and non-OPEC members met on Friday for discussing the cutdown on oil production to control the price. However, the two groups failed to reach a consensus with Russia backing off.
European stocks fell sharply on Friday. On Wall Street, equities sank as well with the Dow Jones industrial average falling by 250 points. The coronavirus is spreading.
It seems that Tesla CEO Elon Musk is not afraid of the coronavirus and is not going to panic while other giant tech companies are advising their employees to work remotely.
Facebook (FB) stock has negatively reacted to the current situation in the U.S. caused by the coronavirus outbreak and all the related risks.
Global airlines stand to lose $113 billion in sales if the coronavirus continues to spread, according to the International Air Transport Association. The airline stocks have been also seriously hit.
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Amazon, Facebook, Google and Microsoft are all encouraging employees in the Seattle area to work from home due to concerns about the coronavirus as the outbreak in Washington grows.
JPMorgan (JPM) stock has lost nearly 5% of its weight as news that the company’s CEO will be away after his emergency surgery makes the rounds. In the premarket, the stock is 3.48% down.
Max Keiser has said that Jamie Dimon, the CEO of JPMorgan, will come to beg the Federal Reserve for cash. Coronavirus attack is hitting the markets again, every day fear rises. But Keiser believes that Bitcoin price can reach $100,000 already in 2020.
While the coronavirus fears are spreading in the U.S., many tech giants are under their influence as well. MSFT stock lost over 2% yesterday and continues falling in the premarket.