Global stocks tumble as oil crashes, compounding coronavirus fears

Global stocks are falling and bond yields are sinking after Saudi Arabia shocked oil markets by launching a price war against onetime ally Russia.

Hong Kong/New York Global stocks are falling and bond yields are sinking after the implosion of a critical oil alliance caused crude prices to crash to historic lows.

S&P 500 futures plunged as much as 5% Sunday evening, triggering a limit that prevents futures from trading below that mark. Dow futures fell more than 1,200 points, or about 4.7%. Nasdaq Composite futures were down 4.8%.The sell-off carried over into Asia Pacific, where Australia's S&P/ASX 200 ended 7.3% lower on Monday, the index's biggest plunge since October 2008. Japan's Nikkei 225 sank 5.1% to its lowest close in more than a year. South Korea's Kospi fell 4.

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