Gold hits seven-year high

Amid a massive sell-off in stock futures, oil prices tanking and bond yields plunging to record lows, gold prices hit a more than seven-year high on Monday. In a volatile session, spot gold touched its highest since December 2012 at $1,702.56, as concerns over the coronavirus outbreak and its economic impact drove investors to safe-haven assets. Profit-taking later unwound much of the metal’s rise, knocking the precious metal back to stand 0.2% higher at $1,676.68 per ounce. – Fitzgerald

Over $26 billion wiped off cryptocurrency market in 24 hours

Cryptocurrency markets plunged following a plummet in oil prices and a massive sell-off in stock futures. The market capitalization or entire value of cryptocurrencies was down $26.43 billion from a day earlier, according to data from Coinmarketcap.com, and the sell-off worsened as the day went on. Bitcoin, the biggest cryptocurrency by value, fell more than 10% in 24 hours around the same time.

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