Oil prices rise 4% after biggest one-day fall since 1991


SINGAPORE (Reuters) – Oil prices rose by more than $1 on Tuesday after a price war by top producers Saudi Arabia and Russia sparked the biggest daily rout since the 1991 Gulf War, but investors saw little chance of a quick price recovery as the […]

Wall Street clobbered as crude plummets, virus crisis deepens


NEW YORK (Reuters) – Wall Street suffered its biggest one-day loss since the 2008 financial crisis on Monday and recession worries loomed large as tumbling oil prices and ongoing coronavirus fears prompted investor panic on the anniversary of the U.S. stock market’s longest-ever bull run. […]

Orders sink for Italy's luxury suppliers as virus spreads – sources


FLORENCE/VENICE/MILAN, March 9 (Reuters) – By Silvia Ognibene, Riccardo Bastianello, Silvia Aloisi Global luxury brands including Gucci and Louis Vuitton are scaling back orders with Italian suppliers, as the spread of the coronavirus from key market China to major manufacturing hub Italy hits business across […]

Exclusive: CBOE VIX index froze at open: exchange official


(Reuters) – Trading in options on Wall Street’s fear gauge was impossible in the first minutes of Monday’s session due to a complete absence of prices from the market makers on whom trading depends, a representative of index operator CBOE Global Markets Inc (CBOE.Z) said. […]

Coronavirus shock and oil price fall pummel world stocks


LONDON (Reuters) – Global stocks plunged on Monday and prices for crude oil tumbled as much as 33% after Saudi Arabia launched a price war with Russia, sending investors already worried by the coronavirus fleeing for the safety of bonds and the yen. Saudi Arabia […]

Stock futures plummet on oil shock, virus fears


(Reuters) – U.S. stock index futures plunged on Monday after Saudi Arabia launched an oil price war with Russia, sending crude tumbling 25% and intensifying fears about a global recession. The Dow Jones Industrials index .DJI was set to fall over 1,300 points at the […]

U.S. stock futures sink by 5% down limit after crude rout


(Reuters) – U.S. stock futures plunged 5% to hit their daily down limit and halt trading after the biggest single-day loss in oil futures in almost 30 years on Sunday exacerbated fears of a credit crunch across financial markets. Saudi Arabia’s plans to hike crude […]