Global EditionASIA 中文雙語Fran?ais
    World
    Home / World / Americas

    Stocks stumble as oil prices plummet

    By SCOTT REEVES in New York | chinadaily.com.cn | Updated: 2020-04-21 10:47
    Share
    Share - WeChat
    A 3D-printed oil pump jack is seen in front of a displayed stock graph and "$0 Barrel" words in this illustration picture, April 20, 2020. [Photo/Agencies]

    US stocks slumped Monday as investors surveyed the economic damage caused by the coronavirus pandemic and considered gloomy prospects for a sustained rebound as oil prices hit the bottom of the barrel.

    On Monday, the Dow Jones Industrial Average lost 592.05 points, or 2.44 percent, and closed at 23,650.44. The S&P 500 slipped 1.79 percent, while the Nasdaq Composite fell 1.03 percent.

    The stock market had posted back-to-back weekly gains for the first time in about two months prior to Monday’s skid.

    Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever, in recognition that the coronavirus pandemic has sapped demand for fuel and there is not enough storage for the massive glut of oil present on US soil.

    Investors sold the May futures contract due to expire on Tuesday in a series of waves. At one point, the contract hit negative $40. When the trading stopped, crude oil had finished the day at a negative $37.63 a barrel, a decline of some 305 percent, or $55.90 a barrel.

    That unwanted oil is instead going into storage, but in the United States, storage is filling up much more quickly than anticipated. Cushing, Oklahoma, the tiny town of less than 10,000 people that serves as the main US storage hub, was 70 percent full as of last week, and traders say it will be full within two weeks.

    1 2 Next   >>|
    Most Viewed in 24 Hours
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    无码人妻精品一区二区蜜桃AV| 亚洲AV永久无码精品水牛影视 | 中文字幕av无码一区二区三区电影 | 中文字幕高清在线| 中文字幕国产91| 无码人妻丰满熟妇区96| 久久Av无码精品人妻系列 | 亚洲∧v久久久无码精品| 日韩国产精品无码一区二区三区| 国产av永久无码天堂影院| 欧美日韩中文字幕久久伊人| 伊人久久精品无码av一区| 国产乱子伦精品无码码专区| 合区精品中文字幕| 亚洲精品无码成人片在线观看| 久久精品中文无码资源站| 亚洲精品无码国产| 精品久久久无码21p发布| 日韩区欧美区中文字幕| 日韩精品久久无码中文字幕 | 熟妇无码乱子成人精品| 成人无码AV一区二区| 天堂在线观看中文字幕| 自拍中文精品无码| 嫩草影院无码av| 无码人妻少妇伦在线电影| 中文字幕Av一区乱码| 国产午夜无码视频在线观看| 一本色道无码道DVD在线观看| 中文字幕 qvod| 久久青青草原亚洲av无码| 99精品人妻无码专区在线视频区| 人妻AV中出无码内射| 久久亚洲日韩看片无码| 18禁超污无遮挡无码免费网站| 免费无码又爽又刺激网站| 最近2019中文字幕大全第二页| 无码国内精品久久综合88| 一本加勒比HEZYO无码资源网| 韩国19禁无遮挡啪啪无码网站| 无码国产精品一区二区免费 |