Story Text: British stocks had the biggest intraday fall since 2008 and benchmark bond yields turned negative for the first time on Monday (March 9) on investor fears that the coronavirus outbreak could stall the global economy.
The FTSE 100 plunged to a three-year low after Saudi Arabia crashed the oil prices by slashing its own selling prices and raising output.
Yields on benchmark British government bonds turned negative for the first time ever as panicked investors rushed to the safety of gilts to hedge against the feared economic shock of the coronavirus.
Britain has so far reported three deaths and 319 cases of the new coronavirus. The country's biggest retailer, Tesco, has restricted bulk buying of products such as anti-bacterial gels and wipes, dried pasta and long-life milk.
(Production: Vin Shahrestani)
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