Though most of the initial blame for the chaos went to fears of a global coronavirus pandemic – global markets have lost over $10 trillion in market capitalisation over the past two weeks – oil happened to be the latest culprit. A dispute between the Organisation of Petroleum Exporting Countries, led by Saudi Arabia, and other major producers led by Russia, saw oil log its biggest daily decline since 2014, dropping 10%. A crash in demand from China and other places where travel restrictions have been imposed to combat coronavirus has also been a factor in the decline. Crude oil continued to fall on Monday, taking down global markets with it. However, with Russia signalling that talks with Opec remain possible, oil prices jumped by 10% on Tuesday, resulting in the bourses rebounding too.