NEW YORK, April 21 ― A historic plunge in US crude oil prices pulled global equity markets lower yesterday and helped drive bond prices higher as investors sought out safe havens amid the economic carnage of the coronavirus pandemic. With some global crude storage facilities nearly at capacity,...
Tuesday, 21 Apr 2020 07:47 AM MYT
With some global crude storage facilities nearly at capacity, the front-month May benchmark US crude contract fell 307.44 per cent, to -US$37.90 per barrel, the first time in history that oil futures traded in negative territory. Brent was at US$26.05, down 7.23 per cent. On Wall Street, the Dow Jones Industrial Average fell 592.05 points, or 2.44 per cent, to 23,650.44, the S&P 500 lost 51.4 points, or 1.79 per cent, to 2,823.16, and the Nasdaq Composite dropped 89.41 points, or 1.03 per cent, to 8,560.73.
The United States has by far the world's largest number of confirmed coronavirus cases, with more than 750,000 infections and over 40,500 deaths, according to a Reuters tally.
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