Sharp drop in oil prices
Brent crude, the global benchmark, fell 9 percent to $90 a barrel. US West Texas Intermediate (WTI), the US benchmark, fell 9.5 percent to $82.60 a barrel.
Growth in US stock markets
At the same time, futures contracts rose on US stock exchanges. Dow Jones futures jumped 560 points, or 1.16 percent. Futures contracts on the S&P 500 index rose 0.8 percent, while those on the Nasdaq 100 rose 0.9 percent.