NewsNational

Actions

How major US stock indexes fared Monday

How major US stock indexes fared Monday
Posted

Stocks closed broadly lower on Wall Street Monday, as the market gave up some of the big gains from its first back-to-back weekly increase since February. The selling came as oil prices plunged below zero for the first time, weighed down by excess supplies of crude due to pandemic-related business shutdowns, which have idled factories, offices and automobiles.

A barrel of benchmark U.S. oil for May delivery fell to negative $37.60 per barrel as traders sought to avoid owning crude oil with nowhere to store it.

The S&P 500 fell 1.8%, giving up some of the big gains from its first back-to-back weekly gain since February.