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How major US stock indexes fared Monday

How major US stock indexes fared Monday
Posted at 2:02 PM, Apr 20, 2020
and last updated 2020-04-20 17:56:56-04

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.