Premarket: Global stocks steady after plunge on virus, oil crash

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Premarket: Global stocks steady after plunge on virus, oil crash GlobeInvestor

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The mounting losses and a flight by investors into the safe haven of bonds have fueled warnings the global economy, which already was showing signs of cooling, might be headed into a recession. Benchmark U.S. crude gained 3.2%, or $1.00 to $32.13 per barrel in electronic trading on the New York Mercantile Exchange. It lost 25% on Monday to $31.13 per barrel.

Stock markets usually welcome lower energy costs for consumers and businesses. But the decline cuts into revenue for producers, including the United States. And the abrupt drop, coming amid virus fears, rattled investors.

 

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