Crude costs money again after shock crash, stocks stay in doldrums

FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, following an outbreak of the coronavirus disease , at Lujiazui financial district in Shanghai, China March 17, 2020. REUTERS/Aly Song/File Photo

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 2%, as did the Nikkei, EuroSTOXX 50 futures and FTSE futures. E-mini futures for the S&P 500 fell 0.5%, while bonds and the dollar rose. The World Health Organization warned that any lifting of lockdowns to contain the spread of the novel coronavirus must be gradual, and if restrictions were to be relaxed too soon, there would be a resurgence of infections.

And in the United States, a return to work is looking increasingly chaotic, as some states relax lockdowns while others urging caution faced demonstrators demanding an end to restrictions.“Weak oil prices and China’s negative growth are reminders that the coronavirus has hurt demand.”South Korea’s KOSPI and won dived after CNN reported that North Korean leader Kim Jong Un was gravely ill, but recovered somewhat after South Korean government sources said the story was untrue.Monday’s plunge in U.

America seems to be losing its grip on the word.

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Wall Street retreats as crude slump batters energy stocksA slide in energy stocks weighed on Wall Street on Monday as crude prices crashed at the start of a week packed with quarterly earnings reports and economic data likely to underline the damage from the coronavirus outbreak.
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