Markets have fallen dramatically again, even after Central Banks announced efforts to ease the effects of the coronavirus.
In London, FTSE 100 fell more than 8%.
US Markets fell more than 7% and trades were suspended within minutes of opening and even after the 15-minute suspension in New York, sell-offs still continued and sent the Dow Jones S&P 500 and Nasdaq to fall more than 10%.
The US Federal Reserve cut interest rates to almost zero on Sunday and started a $700 billon programme which is part of co-ordinated action along the eurozone, UK, Japan, Canada and Switzerland, still Investors continued their worries that Central Banks have less options in combating the impact of the pandemic.
Andrew Bailey the new governor of the Bank of England said prompt action is required when needed to stop the damage to the economy from the pandemic, but CMC Market analyst David Madden felt the Central Banks added worry to dealers instead of re-assurance.
The largest falls in London were the travel sector and the holiday firm TUI fell more than 27% and announced they would suspend most of its operations. BA owner IAG fell more than 25% and announced a cut in its flight capacity by at least 75% in April and May.
The FTSE 250 which includes a few well-known UK focused companies fell by more than 12%.
France’s Cac 40 index fell more than 10% and the German Dax fell more than 8%.
With the markets falling pension savers that have work or private pensions know as Defined Contribution pensions have funds invested in the stock market and bid rises or falls can affect their pension, but like any investment pension savings are long term.