Coronavirus, then oil collapse erase $5 trillion from U.S. stocks

Fears about the rapidly spreading coronavirus and its impact on the global econo...

SAN FRANCISCO - Fears about the rapidly spreading coronavirus and its impact on the global economy, which deepened on Monday with the collapse of oil prices, have evaporated over $5 trillion of the S&P 500’s market value in recent weeks.

That price war broke out after major oil producing countries failed to reach an agreement to cut output to make up for lower demand related to the coronavirus.

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