NEW YORK (AP) — Stocks fell in Tuesday morning trading on Wall Street and oil prices continued to collapse as traders anticipate demand for energy to shrivel because of the widespread business, factory and travel shutdowns related to the coronavirus pandemic.
The world remains awash in an oversupply of crude just as demand for it is suffering an unprecedented pullback.
The S&P 500 was down 2.7 percent following losses in Europe and Asia.
In another sign investors are feeling nervous, Treasury yields continued to fall, meaning investors are willing to get paid even less to get the safety of owning a U.S. government bond.
