Stocks, oil plunge over global fight for crude production
Global stock markets and oil prices plunged Monday after a fight among major crude-producing nations jolted investors who already were on edge about the surging costs of a virus outbreak.
The main stock indexes in Britain and Germany were down by almost 7%. Japan’s benchmark closed down 5.1% while Australia’s lost 7.3% and the Shanghai market in China was off 3%.
Trading in Wall Street futures was halted for this first time since the 2016 U.S. presidential election after they fell more than the daily limit of 5%. Bond yields hit new lows as investors bought them up as safe havens.
https://apnews.com/d66a95ec77d43fea5156aa6327fdf650
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