World oil prices crashed on Monday, fuelling a vicious selloff on stock markets -- which were already buckling under intense pressure over the spreading deadly coronavirus.
Stocks tanked as the global oil market nosedived 30 percent at one stage after top exporter Saudi Arabia slashed the prices it charges customers following a bust-up with Russia over crude production.
The dollar slid versus the yen, a haven investment.
"The markets have passed from panic mode into pure hysteria," said Ayush Ansal, chief investment officer at trading firm Crimson Black Capital.
"Markets were at breaking point before Saudi Arabia's decision to launch an oil price war, but this latest development has taken them beyond that."
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