The Dow Jones Industrial Average crossed into bear territory on Wednesday, which is defined as falling 20 percent below its most recent high.

Oil markets fell yesterday, as Brent oil futures went down by 3.84 percent and Western Texas Intermediate oil futures lost 4.02 percent.

Sentiment for the US Dollar continues to erode after the US President failed to provide market players with any kind of comfort or reassurance regarding the Coronavirus pandemic.

In the Asian trading session, the US Dollar managed to regain its status as a safe haven currency.

After several days of heavy losses against safe haven currencies, the US Dollar finally steadied in London trading.

As the coronavirus epidemic continues spreading around the world, the United States government together with Congress negotiated a series of economic measures

Reports that U.S. oil producers are cutting output sent futures higher during Wednesday’s Asian trading session

An emergency interest rate cut from the Bank of England sent the Pound lower against the common currency Euro but maintained some traction versus the US Dollar.

Oil prices plummeted around 24 percent on Monday, the worst daily decline since 1991.

Global markets were facing intense volatility on Monday after a near 30 percent decline in oil prices over the weekend.