Oil prices plunged deeper into a bear market Wednesday, reflecting fears about the economic repercussions of the rapidly-spreading health crisis. Economists are warning the coronavirus could spark a severe economic slowdown or even recession in the United States and elsewhere.The outbreak is the biggest shock to demand for oil since the 2008 financial crisis.US crude dropped another 2.3% on Wednesday to $48.73 a barrel.
How the coronavirus could spark a severe slowdown or recession in AmericaThe oil patch suffered more selling Wednesday, even as the broader markets staged a fragile rebound. Devon Energy and Diamondback Energy fell more than 5% apiece, making them among the biggest losers on the S&P 500. Larger rivals ExxonMobil and Chevron also retreated.Unlike recent oil bear markets caused by excess supply, this one is all about weakening demand.
CNN just loves fear mongering. They think crashing the economy will hurt the president. Despicable people
Can you comment on the Johns Hopkins report that concludes that US is best prepared ref coronavirus worldwide? You seem to feel your role is one of stoking fear, rather than calmly reporting facts. Why is that?
corona Virus is HIV.
TrumpPence pose the biggest threat to the world CoronavirusOutbreak UnitedStates
Zero sensationalism and 100% Facts, we are covering Coronavirus and this where you get all facts and no fluff. CoronaVirusUpdates CoronavirusOutbreak
Don't tell Trump.
Why would the coronavirus affect demand on oil, exactly? This is a speculative market. Speculators are driving the cost. They love to claim that anything and everything is driving up the prices, when it is just them. It has nothing to do with coronavirus.
Instead of creating panic because of your anti-Trump agenda, talk more on the preventive measures that ought to be implemented.
西洋にはミイラ取りがミイラになるてことわざあるのかしら？
It’s strange the world’s financial institutions could pause or fudge the books until this is over, but profit before people as usual, and guess what, they need to rip people off to have profits
Is there any doubt these news agencies are just energy company pr companies.
USA can go down the pan fast as it likes
世界恐慌待ったなしやね。
Not to mention a damper on anything 'travel', aye those airline companies (and their stocks) are gonna feel it.
I’m more concerned with the lives being lost at the moment
i hope🤞🏼 there’s a cure 🤒
The zombie apocalypse ain't shit compared to that.
That’s what the DS Demonrats wanted to happen to President Trumps great economy