• Latest
  • Trending
Stocks resume trading and Dow plummets 2,000 points amid oil price war – TheStreet

Stocks resume trading and Dow plummets 2,000 points amid oil price war – TheStreet

09.03.2020
Samsung Galaxy S23 gets big camera update with several improvements – Android Police

Samsung Galaxy S23 gets big camera update with several improvements – Android Police

30.03.2023
John Dodd-built beast with 27-litre Merlin engine is up for sale

Renault 5 Electric reveals first details ahead of 2024 debut

30.03.2023
MLB, MLBPA Reach Tentative Agreement on Minor League ABCs – MLB Trade Rumors

MLB, MLBPA Reach Tentative Agreement on Minor League ABCs – MLB Trade Rumors

30.03.2023
Heavy Crude Oil Price Climbs – OilPrice.com

Heavy Crude Oil Price Climbs – OilPrice.com

30.03.2023

PIRAMAL PHARMA SOLUTIONS SUPPORTS THERACOSBIO WITH AN INTEGRATED DRUG SUBSTANCE/DRUG PRODUCTS PROGRAM FOR BEXAGLIFLOZIN

30.03.2023
Suspected kidnapping leads to standoff that lasted about 36 hours on major Virginia road – Reuters

Suspected kidnapping leads to standoff that lasted about 36 hours on major Virginia road – Reuters

30.03.2023

European stocks climb on Wednesday – MarketWatch

30.03.2023
Lost Apple Watch survives hours at sea and is returned to owner – 9to5Mac

Lost Apple Watch survives hours at sea and is returned to owner – 9to5Mac

30.03.2023
Emmerdale star Dexter Ansell, 8, lands major Hollywood role just two years after quitting ITV soap opera

Emmerdale star Dexter Ansell, 8, lands major Hollywood role just two years after quitting ITV soap opera

30.03.2023
Brooklyn Peltz Beckham Says He Wants To Have Kids With Nicola "Whenever my wife is ready"

Brooklyn Peltz Beckham Says He Wants To Have Kids With Nicola "Whenever my wife is ready"

30.03.2023
Chinese premier warns of conflict in Asia amid US tensions

Chinese premier warns of conflict in Asia amid US tensions

30.03.2023
JPMorgan Launches Blockchain-Based Dollar Accounts For Banks In… – CoinGeek

JPMorgan Launches Blockchain-Based Dollar Accounts For Banks In… – CoinGeek

30.03.2023
Thursday, March 30, 2023
  • World
  • Economics
  • Sport
    • Basketball
    • Football
    • Nfl
    • Golf
    • F1
    • UFC
  • Technology
  • Culture
    • Arts
  • Media
    • Film
    • Celebs
    • TV
  • LifeStyle
    • Auto
  • Travel
OLTNEWS
  • World
  • Economics
  • Sport
    • Basketball
    • Football
    • Nfl
    • Golf
    • F1
    • UFC
  • Technology
  • Culture
    • Arts
  • Media
    • Film
    • Celebs
    • TV
  • LifeStyle
    • Auto
  • Travel
OLTNEWS
No Result
View All Result

Home » Economics » Stocks resume trading and Dow plummets 2,000 points amid oil price war – TheStreet

Stocks resume trading and Dow plummets 2,000 points amid oil price war – TheStreet

09/03/2020 17:10:43
in Economics
0

Related posts

Heavy Crude Oil Price Climbs – OilPrice.com

Heavy Crude Oil Price Climbs – OilPrice.com

30.03.2023

European stocks climb on Wednesday – MarketWatch

30.03.2023


  1. Stocks collapsed on Monday, global stocks fell and bond yields fell sharply as investor fears about the spread of the coronavirus intensified and oil prices plunged as producers quarreled over the a way of reducing production and increasing prices as demand weakened.
  2. Coronavirus update: the number of confirmed coronavirus cases worldwide has increased to 111,354, according to the Johns Hopkins Center for Systems Science and Engineering, and the deaths are 3,892. The United States has 566 cases of viruses and the deaths have risen to 22.
  3. The energy sector is the day’s stock of real money as oil prices plunge and Saudi Arabia and Russia have been fighting over production cuts.

Stocks collapsed on Monday, global stocks fell and bond yields fell sharply as investor fears about the spread of the coronavirus intensified and oil prices plunged as producers argued over how cut production and raise prices as demand weakened.

The stocks were halted shortly after the opening bell on Monday, after tripping of the circuit breakers once the S&P 500 fell 7%.

After trade resumed, the Dow Jones Industrial Average fell 1,913, or 7.4%, to 23,950, the S&P 500 fell 7.23%, and the Nasdaq fell 6.91%.

With global coronavirus infections exceeding 111,000 and the number of Covid-19 coronavirus deaths just below 4,000, global investors can no longer ignore the impact of the virus on the global economy.

The fall in the global market was further compounded on Monday by a dramatic drop in government bond yields. The yield on the 10-year US Treasury benchmark fell to an all-time low of 0.318% overnight in one of the biggest declines since the financial crisis. At the last check, the yield was 0.42%.

Investors were betting Monday that the Federal Reserve will have to cut rates by an additional 75 basis points when it meets next week in Washington – after last week’s 50 basis point cut – to boost the economy American against the destruction of Covid-19.

International benchmark Brent crude prices fell nearly 20% Monday morning to $ 36.64 a barrel and West Texas Intermediate crude fell 20% to $ 32.96 a barrel after failed talks between OPEC and Russia and Saudi Arabia launched a price war and promised to increase production to increase market share.

“The collapse in the price of oil adds a new dimension to fear and uncertainty. You really couldn’t make a worse combination for uncertainty,” said David Bahnsen, chief investment officer of Bahnsen Group. “The markets should not only worry about the impact on capital spending and the credit markets, but frankly, they must be wondering what the (Putin’s) angle really is (Russian President Vladimir).”

The sharp drop in oil prices on Monday – the worst since 1991 – followed drops of more than 10% on Friday after the failure of OPEC talks, cartel leaders and non-member allies such as Russia not having deepened the pact on production reductions, but also allowed their current which expires daily 1.2 million barrels of the market.

Saudi Arabia, in what many analysts see as a tactic designed to punish Russia for its failure to support OPEC’s proposal, has started to cut prices as demand weakens as economies slow in the midst of the coronavirus crisis.

Shares of the major oil companies Exxon Mobil XOM, Chevron CVX and BP ((BP) – Get a report plunged on Monday as crude prices fell. Marathon Petroleum ((MRO) – Get a report declined xx and Occidental Petroleum ((OXY) – Get a report also strongly collapsed.

The number of confirmed coronavirus cases worldwide has increased to 111,354, according to the Johns Hopkins Center for Systems Science and Engineering, and the deaths amount to 3,892.

The United States has 566 cases of the virus and deaths have risen to 22.



Related

Previous Post

Portuguese operators avoid Huawei for main 5G networks – report – Telecompaper

Next Post

EXCLUSIVE: Ilja Dragunov wants to face Aleister Black and talks to Triple H and Shawn Michaels

Related Posts

Heavy Crude Oil Price Climbs – OilPrice.com
Economics

Heavy Crude Oil Price Climbs – OilPrice.com

30.03.2023
0

A new Chinese refinery is pushing the price of heavy crude oil higher after a long period of depression.Heavy crude...

Read more

European stocks climb on Wednesday – MarketWatch

30.03.2023
JPMorgan Launches Blockchain-Based Dollar Accounts For Banks In… – CoinGeek

JPMorgan Launches Blockchain-Based Dollar Accounts For Banks In… – CoinGeek

30.03.2023

"Important" progress in cleaning up Poole Port oil spills – Yahoo News UK

30.03.2023

Fire shuts down Peabody coal mine and there’s no restart estimate – Yahoo Finance

30.03.2023

Rising Costs Hurt U.S. Oil & Gas Production Growth – OilPrice.com

30.03.2023
Load More
Next Post
EXCLUSIVE: Ilja Dragunov wants to face Aleister Black and talks to Triple H and Shawn Michaels

EXCLUSIVE: Ilja Dragunov wants to face Aleister Black and talks to Triple H and Shawn Michaels

Recent Posts

  • Samsung Galaxy S23 gets big camera update with several improvements – Android Police
  • Renault 5 Electric reveals first details ahead of 2024 debut
  • MLB, MLBPA Reach Tentative Agreement on Minor League ABCs – MLB Trade Rumors
  • Heavy Crude Oil Price Climbs – OilPrice.com
  • PIRAMAL PHARMA SOLUTIONS SUPPORTS THERACOSBIO WITH AN INTEGRATED DRUG SUBSTANCE/DRUG PRODUCTS PROGRAM FOR BEXAGLIFLOZIN

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • 0
  • EN

© 2020

No Result
View All Result
  • World
  • Economics
  • Sport
    • Basketball
    • Football
    • Nfl
    • Golf
    • F1
    • UFC
  • Technology
  • Culture
    • Arts
  • Media
    • Film
    • Celebs
    • TV
  • LifeStyle
    • Auto
  • Travel

© 2020

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.