Coronavirus: How the longest bull run in history ended in pandemic panic

Topics Coronavirus

As a collapse in the oil price unleashed chaos in financial markets, Madrid money manager Diego Parrilla phoned a colleague who agreed: they had better head to work early in the morning. By daybreak in Europe, the price of crude oil had fallen by a third.

The shock had turned worry about the coronavirus to full-blown panic, wiped trillions of dollars from Asian stocks and sent futures for European and US markets plunging. “We assessed the book,” said Parrilla, 46, who runs a 300 million euro ($332 million) fund that.

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