Oil prices fell by 25% on Monday due to the coronavirus pandemic and OPEC's conflict with Russia.
The coronavirus was officially recognized as a pandemic. Demand for safe assets is growing, and all commodity currencies are getting sold. Shares of airlines are rapidly falling in price.
Just this week, WIZZ air shares fell by 26% and Lufthansa’s declined by 15% due to the widespread closure of borders and mass cancellation of flights.
Stock markets also fell this week. European indices dropped the most, with a decrease of 16%.
