Stocks Plunge, Dow Falls 600 Points As Historic Oil Rout Continues And Congress Passes More Small Business Stimulus

“All hell is breaking loose in oil markets.”

CNBC. The deal will allocate some $320 billion more for the Paycheck Protection Program to provide more small business loans.The price of crude oil plunged on Tuesday, alongside plummeting U.S. futures contracts: It ended down over 35%, at around $13 per barrel.“All hell is breaking loose in oil markets,” says Edward Moya, senior market analyst for Oanda. “This will be oil’s last dance for many U.S.

Crude continues to slide, reflecting a “toxic combination of collapsing demand, elevated supplies and diminished storage,” according to Vital Knowledge founder Adam Crisafulli. The coronavirus outlook for markets remains “largely unchanged,” with the focus increasingly shifting to when the economy can reopen—though that process will be a “very slow and arduous one.

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