Dow Plunges as IBM Slides, Oil Rout Deepens [TheStreet.com]
International Business Machines Corporation (IBM)
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Source: TheStreet.com
declined sharply Tuesday as the selloff in oil continued for a second day. prices plunged to below zero for the first time ever on Monday as storage tanks were nearly full amid a collapse in demand due to the coronavirus pandemic. contracts expiring Tuesday turned slightly positive Tuesday after President Donald Trump said his administration was working on a plan for funds to be made available for oil industry.“We will never let the great U.S. & Gas Industry down,” Trump said in a tweet on Tuesday. “I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!”West Texas Intermediate crude contracts for June remained down 33% for the day following Trump's tweet."The pendulum is swinging from the opposite extreme of the peak oil craze about 10 years ago. This price slump is definitely a reaction to the fact that the world is running out o
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