Continuing fears about a coming recession on Tuesday pushed oil prices lower, the euro towards parity with the US dollar and government bonds higher.
International oil benchmark Brent crude, which had climbed to almost $140 a barrel in early March as western governments prepared sanctions against big producer Russia after its invasion of Ukraine, fell 7.1 per cent, settling at $99.49. US marker West Texas Intermediate dropped 7.9 per cent to settle at $95.84.
The euro teetered on the edge of hitting $1 for the first time since 2002, as the dollar attracted safe-haven buyers as well as traders taking advantage of the gap between interest rate expectations in the US compared with the eurozone.
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