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Oil crash deepening, weighs on global markets

Covid-19 dragging down demand means there's little producers can do to boost prices in the short term

A fresh plunge in oil prices dragged down investments from stocks to currencies Tuesday, stinging investors anew and adding even more urgency to the crisis sweeping the energy industry.

Major U.S. stock indexes have largely shrugged off concerns about bankruptcies and job losses in the energy sector while rebounding from a March 23 multiyear low. But this week’s drops show that recent chaos in the world’s busiest commodity market is beginning to compound lingering worries about the coronavirus.

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