U.S. stocks dive as oil war and coronavirus fears slam markets

Oil futures sunk by 31% in a matter of seconds after the open of trading Monday in Asia, the worst decline since the Gulf War in 1991.

Although cheaper oil will translate into more affordable energy for consumers and businesses, it hurts oil-producing countries and companies. Thousands of workers have already been laid off in the U.S. oil patch. The 14 OPEC countries had wanted to cut output by 1.5 million barrels a day, or about 1.5% of world production. OPEC countries such as Saudi Arabia and Iran say they need nonmember allies such as Russia to take 500,000 barrels of that cut on themselves.

“With the combination of the implications of the oil stand-off and the outbreak, I now believe that it’s almost inevitable that there will be a global recession this year,” said Nigel Green, chief executive of DeVere Group, an independent financial advisory group.The Cboe Volatility Index surged to its highest level since 2008 on Monday as a plunge in oil prices frazzled traders already on edge over the coronavirus.

Just what they ordered 'Real Time' Aug '19: Bill Maher: “[A] recession would be very worth getting rid of Donald Trump and these kind of policies. . And it would get rid of him. . A recession would definitely knock him out of office.” Rick Wilson: “Bring on the recession . .

The media is now just an adrenaline junkie disappointed with the Impeachment flop of RepAdamSchiff TeamPelosi and the rest of the sourpusses. The Coronovirus is being handled fine by the Trump administration and lower gas prices are great for consumers and industry. Chill out!

It's all going to be fine.

In this way Erdogan and his staff were hosted and insulted in one of Kremlin's chambers ! Furthermore, there is a painting of a historic Russian leader hangs on wall is symbolizing to a battle where the Russia won .

If I have to come out of retirement to greet at Walmart for our country and get rid of TrumpPutinGOP, so be it. It's the patriotic thing to do.

VERDADERO SUEÑO AMERICANO SERÁ CUMPLIDO CUANDO ESTADOS UNIDOS ESTÉN GOBERNADOS POR UN SOCIALISTA DEMOCRÁTICO COMO CHÁVEZ, TODO EL 'PODER AL PUEBLO' CON SALUD PARA TODOS, EDUCACIÓN, VIVIENDA Y ALIMENTOS ¡LUCHEMOS POR'PUEBLOS POBRES' DE NORTEAMÉRICA

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news live: Oil crashes, stock futures crater on coronavirus, crude war fearsThe world’s faltering effort to contain the coronavirus outbreak hammered stock and oil futures on Sunday, which indicated a sharply lower open on Wall Street. Yes, our wonderful Saudi Friends. Also good at killing Yemen Civilians
Source: YahooNews - 🏆 380. / 59 Read more »

Stock market crash: How coronavirus sell-off causes next credit crisis - Business Insider'Much worse than 2008': An expert who foresaw the dot-com crash warns the stock market's recent turmoil has kicked off another full-blown financial crisis Well I mean yeah,it’s not so much the virus that’s gonna cause it directly.But those who are really really worried about this and anxious of the outcome in the coming months. I live in Nova Scotia,Canada no reports yet.And we’re running low/out of toilet paper hand soap and more! Convenient in an election year.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Cramer: Monday's stock market close could usher in the end of the longest bull market ever'I think that that's certainly a realistic thing,' CNBC's Jim Cramer said. Red Queens worshipping Lucifer plotting genocide More irresponsible posting by Chrome Dome Cramer.
Source: CNBC - 🏆 12. / 72 Read more »