Crude Collapse: Selloff Continues As June Futures Now Down More Than 20%, Hurting Stocks

Crude Collapse: Selloff Continues As June Futures Now Down More Than 20%, Hurting Stocks

Crude collapse putting a damper on global markets as benchmark contract falls 20%. We got the answer Monday when front month May crude fell to 36 dollars below zero in truly surreal trading with prices that sound like Minnesota temperatures deep in the winter.. The May contract expires today and volume is very thin, so it's important to remember that's not where most of the oil complex is trading.. These days, crude's troubles are everyone's, including at home where the oil industry recently pumped a record 13 million barrels a day.. Crude is like a barometer that reflects expectations way beyond just the oil industry.. As more states outline plans to get people back to work, that could ease some of the pressure on the June contract.. Overall the crude move didn't cause too much of a shake-up across the market Monday, and the SPX kept most of last week's impressive gains.. IBM happened to be one of the biggest companies to report Monday, and that brings up a trend so far this earnings season of companies not providing much of a future outlook to investors.. While you can't blame companies for being shy about giving guidance under these circumstances,