Stocks take another battering as coronavirus business disruptions worsen – The National

Stocks take another battering as coronavirus business disruptions worsen – The National

Stocks take another battering as coronavirus business disruptions worsen. Oil prices also fell due to worries that non-Opec oil producers might not agree to proposed output cuts. Asian shares and US stock futures tumbled on Friday as the number of coronavirus cases continued to rise.. The index has skidded more than 10 per cent from its February 19 closing high, and last week saw its biggest weekly percentage decline since October 2008.. Japan's Nikkei stock index closed down 2.72 per cent lower on Friday, a six-month low.. US stock futures erased early gains to trade down 1.21 per cent.. Yields on 10-year US Treasuries fell to a record low of 0.81 per cent on Friday.. Brent closed below $50 on Thursday for the first time since mid-2017.. The US crude benchmark ended 1.9 per cent lower on Thursday and is up 1.5 per cent this week.. If Russia does veto further cuts, the price of a barrel could "sink towards the $40 level", but if Russia agrees, the Opec+ action could send "WTI rallying towards $50 per barrel", Ms Ozkardeskaya said..