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Stock impact report

Collapse in oil prices continues, dragging US stocks lower [ABC News]

Ameriprise Financial, Inc. (AMP) 
Last ameriprise financial, inc. earnings: 1/29 04:10 pm Check Earnings Report
US:NYSE Investor Relations: ir.ameriprise.com
Company Research Source: ABC News
NEW YORK -- Oil prices are continuing to collapse, inflicting more damage onstock marketcoronavirusTHIS IS A BREAKING NEWS UPDATE. AP’s earlier story is below:Oil’s chaotic collapse deepened, and stocks around the world dropped on Tuesday as the economic carnage caused by the coronavirus pandemic turns markets upside down.The price of oil has plummeted because very few people are flying or driving, and factories have shut amid widespread stay-at-home orders. Global demand is set to drop this month to levels last seen in the mid 1990s. At the same time, oil producers can’t slow their production fast enough, and all the extra crude going into storage is sending tanks close to their limits.In the U.S., the cost for a barrel of oil to be delivered in June plunged 43% to $11.57. That’s the part of the market that U.S. oil traders are focused on and trading most actively. For oil to be delivered next month, which is when storage tanks could top out, the cost of a barrel stood at $10.01. A d Show less Read more
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