9 March 2020; -11.17% - Covid and oil

The FTSE MIB index of Piazza Affari fell by 11.17%, closing at 18,475 points. This slump was mainly caused by two factors. The first: the Covid-19 pandemic. The rapid spread of the virus generated fears of a global recession, leading investors to massively sell their positions. The second: the oil price war. The failure of negotiations between Opec and Russia triggered a price war, with Saudi Arabia increasing production and lowering prices, causing the value of oil to plummet. These events triggered a day of panic in global financial markets, with Piazza Affari suffering one of the worst declines in its history.