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New York weighed down by historic WTI crash

20 avril 2020

22:20

The American markets ended sharply lower, penalized by the historic fall of the New York barrel.

Wall Street closed sharply lower on Monday after a barrel of oil listed in New York for delivery in May ended for the first time below zero dollars. This contract expiring on Tuesday at the close, those who hold it must find physical buyers as soon as possible. But as stocks have already swelled enormously in the United States in recent weeks, they have been forced to pay people to find buyers: a barrel of WTI ended at -37.63 dollars, never seen before. Oil companies Exxon Mobil and Chevron fell by 4.72% and 4.20% respectively. The Dow Jones lost 2.44% to 23,650.44 points. The Nasdaq yielded 1.03% to 8,560.73%. The S&P 500 dropped 1.79% to 2,823.16 points.

Despite the market collapse, Amazon increased by 0.78% and Netflix by 3.44%, benefiting from additional demand, millions of people staying at home because of the coronavirus. In addition, Netflix releases its quarterly results this Tuesday after the bell. Conversely, Boeing lost 6.70%, Dow 5,66%, Walt disney 4.15% and American Express 3,87%.

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