Stocks, oil plunge over global fight for crude production

A woman's image is reflected in the window at the Australian Stock Exchange in Sydney, Monday, March 9, 2020. Asian stock markets plunged Monday after oil prices nosedived on worries a global economy weakened by a virus outbreak might be awash in too much crude.

The benchmark U.S. crude price was down over 20%, the biggest daily drop since the Gulf war in 1991 to hit their lowest levels since 2016. They were down as much as 30% earlier, deepening a rout that began when Saudi Arabia, Russia and other major producersto prop up prices. A breakdown in their cooperation suggested they will ramp up output just as demand is sliding.

In Saudi Arabia, the Riyadh stock exchange suspended trading of state-owned oil giant Saudi Aramco after its share price sank by the daily 10% limit at the opening. Companies have been hit by travel and other controls that are spreading worldwide as the global number of coronavirus infections rose past 110,000 worldwide.

Those are the biggest percentage drops since January 1991, when the U.S. began air strikes on Iraq and unleashed strategic reserves to cope with the disruption to oil markets. Adding to pessimism, China reported Saturday that its exports fell 17% and imports were off 4% from a year earlier in January and February after Beijing shut factories, offices and shops in the most severe anti-disease measures ever imposed.

Time for a road trip.

Once again your headline is misleading.

This is just bad jornalism, get your facts straight

1929 repeats

Maybe I’m too young but I don’t ever remember a virus infecting world markets

'The U.S. is an oil company with an army.' George Carlin

Watching the market drop over BS actions of two countries and false fears of a virus that's weaker then the flu, market FOOLS

Hellooooo - anybody down there?

Oil oil oil oil oil... The definition of insanity is...

This needs a worldwide effort in both defense and offense against the virus. Everybody in the world needs to use masks, gloves, etc. and start wiping down everything others would come into contact with. Viruses usually live 9 days. Wow, everybody in the world working together?

My fear is that with the oil prices going so low, and gas dropping. That eventually they will have to balance things out and after a period of a year or two of super low gas prices, the prices will skyrocket over $4.00 a gallon screwing every working man and woman.

IvanCNN This is what happens when our economy is controlled by dipshits

We need a president that can step up and lead the country through this.

Thanks Frump

A virus causing fears is no one's fault. Except a media blowing it out of proportion.

It’ll be a lot cheaper to transport cremate and Bury our dead loved ones. Great leader Trump. good job.

Are we tired of all this winning yet?

At what point will the Top 1% start jumping off roof tops

This is just the beginning , wait for the 20% drop soon

BillBishopKHOU This is totally media driven! Yes, be vigilant, wash your hands, don’t sneeze on people! This is not the plague!

Can someone give Chet or Reggie in finance a benzo and a shot of whisky? They need to stop whining about their ROI.

Lower prices will be nice at least. Wish I could find a way off oil altogether though.

IN CORONAVIRUS I TRUST

Don't get. Where is free market ? Free fall ? 🤣🤣🤣🤣🤣 Then you call the State to save all what can be saved !! Capitalism is a joke

Hey Drumf. This is the bubble I warned you about. Pop! Goes the weener.

MAGA

Fox News viewers - this is a hoax and go buy some stocks!

Expect Fed to panic and cut rates again...!!

Saudi Arabia and Russia are arguing over the price and flow of oil. That, and the Fake News, is the reason for the market drop!

The Harbinger. The Judgement on the United States of America.For no stone will be left not being upturned.Shalom.

Markets worldwide were gripped by fear after oil prices cratered more than 20% on coronavirus worries. The S&P 500 plunged 7% in the first few minutes after the market opened, tripping a circuit breaker that temporarily halts trading.

high fliers like TSLA GOOGL and pretty much all SaaS companies like NOW SHOP have more downside. shopify no earnings relies on new subscriptions & % of transaction spend both of which has come to a halt.

TrumpVirus

Buy!!!!!!!!!

“Hey. We’re losing too much money. Our gambling isn’t paying off and making us richer. So let’s just change the rules and turn everything off so we stop losing money.”

Learn what is BTC

This dude should close the market to stop the bleeding but he nor his crew have the experience to make an obvious decision .

It`s time to buy stocks

Nobody will call this what is is; ranks manipulation and ineptness. Oil prices? Ten year bond yield? Coronavirus? Yeah...right! Harvard liberals running Wall Street doing their best to harm Trump and cause panic across the board.

Again, Trump golfs!

CrispinHavener For the good of the country, Trump needs to resign.

Trump, where are you on this, thought you had the markets under your thumb

Wait, I thought stock speculators were a tough bunch amd knew not to panic ever.

Turn those machines back on!

CommonTalkPod

Good

dmcallister26 cue realDonaldTrump to call this a hoax, the Dems and fake news media attempting to ruin his name in 3...2...1...

'Breaking trading halted over corona fears'? Yet your Article says 'Stock oil plunge over global fight for Crude'? So which is it?

Is the trading for the stock market stopped or just the future market?

So here is the deal with the gas prices. It will be cheap for awhile. $50-$70 a barrel is the sweet spot, protects consumers and allows for exploration and production. $30 a barrel means no drilling, exploration, or field development. No reserves, back to $100 a barrel

So, the last time that trading was frozen was in 2016 when Trump was elected. There’s a theme here..

Ugh...

Can we finally kill oil? Before it kills us?

its time for everyone to learn how to live a more humble life and stop destroying the planet. this AI, IOT,5G stuff is just another form of virus just in a different form. its called EMF for electro magnetic frequency. it can change plant growth, therefore human growth, period !

FYI realDonaldTrump coronavirus marketcrash

Recession always happens under a GOP presidency... coronavirus COVID19 COVIDー19 pandemic coronavirususa Bernie BernieSanders BernieSanders2020 Bernie2020 BernieBros BernieJourney BernieWillWin NotMeUs MedicareForAll M4A M4All

This wouldn't be happening if the so called president realDonaldTrump didn't hide the truth from the American people from the beginning. American health wouldn't be in jeopardy if trump didn't roll back BarackObama rule's on testing vaccines from day 1. Are you awake yet?

MAGA TrumpTrainWRECK2020

Awesome.

Flash sale on great companies.

Dawn_News etribune ARYNEWSOFFICIAL Stock markets all over the world are in the red, it is not just Pakistan karachi stock exchange. All dawn_com your news is biased and with your anti Imran angle.

What a start to a new week DowJones dowfutures

realDonaldTrump The POTUS is a failure who was golfing all weekend instead of trying to solve the issues. Market crash is all on you, dumpy

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