- global market turmoil 全球市场动荡
What a difference a few weeks makes.
Until mid-February stock markets regularly posted new highs, amid confidence that China was controlling its coronavirus outbreak.
That confidence has turned to alarm.
Evidence is mounting of the epidemic’s spread far beyond China.
A nationwide quarantine in Italy, southern Europe’s economic powerhouse【强大的集团（或组织）】, has raised fears about the restrictions that might be needed to rein in the virus, at great cost.
Global stock markets have suffered sharp declines (though there was a modest recovery in Asia overnight), with benchmark indices【基准指数】 in Britain and France declining by more than 20% from their peaks.
Adding to the turmoil【骚乱；动荡】, Saudi Arabia has launched an oil-price war, vowing to increase production even though demand is falling, because it believes it can outlast【比…持续时间长】 Russia.
That has highlighted【引人注目;显得很突出】 yet another fear. In 2008, the last time global markets were rocked, governments banded together to restore calm.
This time, they are more inclined to blame each other.
Mar 10th 2020
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