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Oil's chaotic collapse deepens; stocks drop worldwide

 

Last updated 4/21/2020 at 3:52pm



By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers

NEW YORK (AP) — Oil prices crumpled even further Tuesday, and U.S. stocks sank to their worst loss in weeks as worries swept markets worldwide about the economic carnage caused by the coronavirus pandemic.

The market's spotlight was again on oil, where prices have plummeted because very few people are flying or driving, and factories have shut amid widespread stay-at-home orders. Global demand is set to drop to levels last seen in the mid 1990s. At the same time, oil producers can't slow their production fast enough, and al...



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