Oil crash pummels stocks and bond yields; dollar rises [Reuters (UK)]
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Source: Reuters
Oil crash pummels stocks and bond yields; dollar rises - Reuters 4 Min Read NEW YORK (Reuters) - Stock markets around the world fell on Tuesday, as oil prices hit a two-decade low a day after some U.S. crude oil futures turned negative for the first time ever, underlining worries about deep economic damage from the coronavirus pandemic. While gold is often seen as a safe haven bet, that commodity also declined on Tuesday as investors favored cash. Investors rushed to buy bonds, which pushed down U.S. Treasury yields, with the five-year note hitting a new record low as the difficulties of restarting the U.S. economy sank in. June oil futures plunged, as the panic that sent U.S. May futures to below minus $40 per barrel on Monday intensified due to worries about the coronavirus pandemic’s effect on fuel demand in a market overrun by supply. Equities around the world tumbled, with Wall Street’s major stock indexes following Europe and Asia lower. Monday’s plunge in oil, which saw some pr
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