A day after their worst declines in decades, stock markets and the price of oil see-sawed as investors faced up to the potential of COVID-19 spreading and hurting economies around the world. The oil price fell to its lowest level in years on Monday, before a mini-rally built on expectations that even Saudi Arabia must know it can't withstand prices this low forever. The coronavirus that causes COVID-19 has spooked stock market investors this week as they worry about the worst-case scenario for corporate profits and the economy, where factories and supply chains are shut around the world due to quarantines and people stay huddled at home instead of working or spending. That's why many say the market will continue to swing sharply at least until the number of new cases decelerates. "Markets don't trade on good or bad, they trade on better or worse," said Alec Young, managing director of global markets research at FTSE Russell.

Source: CBC News March 10, 2020 16:10 UTC