U.S. stock futures were pointing to plunge for the Dow at Monday's open as oil prices and bond yields were collapsing.
of 0.318% early Monday.The yields on the 30-year and 10-year were a bit off their lows. The Federal Reserve's emergency, intermeeting 0.5% interest rate cut last week has done little to support stocks and yields. The Fed's regularly scheduled March policy meeting is next week.Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia arrives for the 178th meeting of the Organization of Petroleum Exporting Countries in Vienna, Austria, on March 6, 2020.
's failure to strike a deal with its allies regarding production cuts last week led Saudi Arabia to reduce its prices as the kingdom reportedly gets set to ramp up production, leading to fears of an all-out price war. ally Russia rejected the additional cuts when the 14-member cartel and its allies, known as
+, met Friday.
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