Crude Falls Sharply as Worries About Global Economy Snowball

摘要

Crude oil fell sharply on Monday as mounting concerns about the fragile state of the world economy triggered big losses for equities. April Brent on ICE Futures fell $4.14 to close at $42.21 per barrel, nearly wiping out last week's gains. April Nymex crude sank $4.61, or more than 10%, to settle at $40.15 after trading below $40 during the session. The Dow Jones Industrial Average fell to levels unseen in more than a decade, providing further fodder for market bears, following news of another gov- ernment bailout of insurer AIG.