Order to lock down money markets, including the Philippines stock exchange

New delhi date. March 17, 2020, Tuesday

Authorities in the Philippines have ordered the closure of all the financial markets, including the stock market, as the global recession worsens as the Corona virus prevails. On the other hand, authorities in Spain, Italy and France have been conducting drills to curb short selling to curb market turmoil.

In a bid to stem the global recession, stock market authorities in one country are now taking steps to impose short selling. Countries like Europe, Spain, Italy, France, where the Corona virus has been affected and reports of the authority being more active in stabilizing the stock market, which has been the worst hit in the panic, were reported.

According to the information obtained, France's AMF has broken the short selling rate of 92 stocks, while the Italian consulate has also suspended the stocks trading of 20 companies. However, similar measures have been taken by Belgium's FSMA.

In Spain, regulators have barred new deals from stocks that have been falling for the past month. While Italy and Madrid stock market authorities took a day of short-selling in the stock market there. This led to a decline of up to 8-10% after the panic increased in this market and then traded with a two to three percent decline.

The Philippines, on the other hand, ordered the closure of the financial markets, including the stock market. China had previously stopped trading in the stock market for more than a week in January due to the Corona virus, which is now being followed by the global stock market.

The Philippine stock market, which has a market cap of $ 188 billion, will now be officially opened on Thursday. The Philippines is the first stock market to announce a ceasefire due to the widespread Corona virus outside China.

Stock markets from Asia to Europe and America to Latin America have been called back on the backdrop of the global economic downturn that is pushing economic growth to the bottom and moving the world to face a severe recession.