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gel desinfectante manos, Melissa Francis explains how the price war going on in the crude oil market is tied to coronavirus and the U.S. stock market selloff Fox Business anchor Melissa Francis said on “Outnumbered” that she thinks Monday’s “panic in the market” is overdone, reacting to the day’s sharp selloff. Francis made the comment as U.S. equity markets were drastically lower Monday after an oil price war broke out between Saudi Arabia and Russia and the new coronavirus showed signs of spreading.
gel desinfectante manos - The Dow Jones Industrial Average was down by as many as 2,046 points, or 7.9 percent, in the opening minutes of trading while the S&P 500 and Nasdaq Composite were lower by 7.4 percent and 7.3 percent, respectively. The Dow and S&P 500 were on track for their biggest drops since December 2008. DOW PLUNGES MORE THAN 2,100 POINTS, OIL CRASHES AS PRICE WAR ERUPTS AND CORONAVIRUS SPREADS “This downdraft is not about this coronavirus response this morning,” Francis noted. “It’s about what’s going on in the oil markets and we see this massive selloff in oil because Russia and Saudi Arabia were cooperating.”
gel desinfectante manos, She added, “It’s an oversupply in oil in the market and they were cooperating to support price. Now they are not.” Francis then noted that there is now a price war as it pertains to crude oil. “A lot of regular people have said, ‘Why is this bad for Americans?’ Because it might signal a recession or bring on a recession,” she noted. Francis went on to note the connection to the novel coronavirus. CLICK HERE TO GET THE FOX NEWS APP
gel desinfectante manos - “The reason why the price of oil is falling is because people aren’t traveling so this is really important,” she said. “What’s important is we have the right people in Washington right now,” Francis continued. “This is what [the president's chief economic adviser] Larry Kudlow has been saying. We have [Treasury Secretary] Steve Mnuchin. We have a president who understands credit markets and understands that as you see companies be threatened by a possible recession, by the low price in oil, that they know to how to respond in a very targeted way in order to support businesses and the economy and I think this panic in the market today is overdone.”
gel desinfectante manos - Fox News Flash top headlines are here. Check out what's clicking on Foxnews.com. The lawyers for an Alabama sheriff scheduled to go to trial for multiple felony charges wrongly claimed he was being tested for the new coronavirus when seeking to delay his upcoming trial. In a Friday court document, attorneys for Limestone County Sheriff Mike Blakely said he was hospitalized and being tested amid the global outbreak that has sickened more than 110,000 people and killed nearly 4,000.