Crude’s Collapse Is Sending Shockwaves Across Global Markets
- Energy shares drag down equities; junk bonds in for scrutiny
- Some exporter currencies hold up as importers get a boost
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Investors have gone from contemplating the prospect of oil at $100 to sub-$50 in less than two months. No wonder global markets are playing catch-up.
From stocks and bonds to currencies, assets worldwide are gripped by a crude awakening. Monday saw oil’s largest one-day drop in three years, securing its longest losing streak on record.