Oil Spill: Crude’s Historic Plunge Puts New Pressure On Reeling Stock Market

Oil Spill: Crude’s Historic Plunge Puts New Pressure On Reeling Stock Market

Crude plunge spills over into stock market as futures fall limit-down overnight. Anyone thinking of trading today or this week should consider not going "all in" or "all out," and keeping trade sizes smaller than usual.. Investors continue to price in odds of another Fed rate cut as next week's Fed meeting approaches.. U.S. crude futures fell to four-year lows below $30 a barrel at times early Monday, putting new pressure on a stock market already down double-digits thanks to the coronavirus.. The Saudis can make profit on crude at much lower prices than Russia can, so in this scenario it's possible Russia would suffer most.. When you think back to the tepid stock market of early 2016, one of the big trends then was the close correlation of crude prices to stock prices.. The Energy sector fell at times Friday to levels not seen since the 2009 stock market bottom.. A White House economic advisor went on TV Friday to encourage people to keep going to work and not let the virus change their lifestyle.. Boston Fed President Eric Rosengren said in a speech Friday that if the Fed cuts rates to near zero, "we should allow the central