- At the start of 2020, the killing of Qassam Soleimani, and the Iranian-US tensions that followed, was the biggest story in town for markets.
- But COVID-19 soon began to spread across the world, causing markets to tank. It's been a rollercoaster ride ever since.
- From oil prices turning negative in April to famed investor Warren Buffett selling his airline stocks in May, here are the top 15 market events of 2020 so far.
- Visit Business Insider's homepage for more stories.
In early 2020, the big story for markets was the new low in US-Iran relations following the killing of Iranian general Qassam Soleimani. In the aftermath, the US slapped fresh sanctions on the Gulf nation, the Iranian armed forces shot down a Ukranian airline plane in error, and investors worried about what might happen next.
Little did they know what the following few months had in store.
Coronavirus sparked a chain reaction in global financial markets, and has become the dominant market force ever since. Stock markets hit a low on 23 March as major economies entered lockdown, and later rebounded thanks to major stimulus packages. Investors remain hyper-sensitive to any COVID-19 news, both positive and negative, including the progress on vaccines and an easing of lockdowns.
COVID-19 has, without question, been the biggest markets story of 2020.
But it's not been the only one.
Markets have also watched former Credit Suisse CEO Tidjane Thiam step down following a spying scandal and German payment processor Wirecard collapse after the discovery a $2 billion hole in its balance sheet — and let's not forget oil prices turning negative, a historic moment that stunned traders on both sides of the Atlantic.
Business Insider has rounded the top 15 market moments of the year so far. Here they are:
The US ordered the killing of Iranian major general Qassem Soleimani on January 3, and US-Iranian relations hit a new low. The US imposed fresh economic sanctions.
Source: Business Insider
Credit Suisse CEO Tidjane Thiam resigned on February 7 after an executive-level spying scandal engulfed the bank.
Source: Business Insider
Saudi Arabia kicked off an oil price war with Russia on March 8 in order to penalise Moscow for not agreeing to reduce oil prices during the early stages of the coronavirus slump.
Source: Business Insider
Markets tanked on 23 March as investors finally woke up to the economic impact coronavirus could have. The S&P 500 touched a low of 2237.40.
Source: Business Insider
Trump signed the $2 trillion coronavirus economic relief bill into law on March 27, which included checks for Americans and business loans.
Source: Business Insider
US oil prices turned negative for the first time in history on 20 April.
Source:Business Insider
Famed investor Warren Buffett revealed on May 3 during Berkshire Hathaway's annual general meeting that he has sold his stocks in the big four US airlines, causing jitters in markets.
Source: Business Insider
Car rental company Hertz filed for company protection on May 22. It had nearly $19 billion of outstanding debt.
Source: Business Insider
Dave Portnoy, founder of Barstool Sports, became the poster child of day-trading in May. Even young children turned to the stock market to make some quick money.
Source: Business Insider
Drug-maker Gilead Sciences' stocks rocketed in May after it announced progress in trials for its antiviral drug Remdesivir.
Source: Business Insider
China imposed a draconian national security law on Hong Kong on May 28. It threatened Hong Kong's future status as a financial hub and the city's close relationship with the US.
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On June 4, the ECB announced $676 billion of new stimulus in June to fight the coronavirus, bringing its total coronavirus package to $1.52 trillion.
Source: Business Insider
Wirecard's chief executive Markus Braun resigned on June 19 after a $2 billion hole was discovered in its balance sheet. The company said "the money likely never existed." He was arrested days later.
Fed suspends share buybacks and limits dividends for big banks after stress test results on June 25.
Source: Business Insider
The Federal Reserve spent $428 million buying debt in individual companies in the first wave of its corporate bond-buying programme, the central bank announced on June 29.
Source: Business Insider