Shares end week 'in sea of red' amid Covid-19 recession fear

Global stock markets ended the week in a sea of red — despite the best efforts and pledges of leading central banks and the IMF to stop the selling panic amid the Covid-19 crisis.

And reflecting fears that the world economy is on course for recession, the price of the international benchmark, Brent crude oil slid below $50 a barrel for the first time in two years, while the price of gold soared.