Oil prices ended the day deep in the red as hopes of a deal to decrease supply turned into uncertainty and a surge in crude and gasoline stockpiles dragged prices down further.
Worldwide, the novel coronavirus has infected more than 1.3 million people and killed over 74 000, and although the numbers are still rising in many highly populated countries, some tentative improvements have given hope. The Dow Jones Industrial Average fell 26.13 points, or 0.12%, to 22 653.86, the S&P 500 lost 4.27 points, or 0.16%, to 2 659.41 and the Nasdaq Composite dropped 25.98 points, or 0.33%, to 7 887.26.The pan-European STOXX 600 index rose 1.88% and MSCI’s gauge of stocks across the globe gained 0.97%.
With market optimism on the rise, the US dollar dropped and riskier currencies outperformed as risk appetite improved on hopes that lockdowns may be slowing the spread of the coronavirus in some countries.
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