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Fluctuations in oil always have a role in setting prices for equities. But among all the various market-derived influences that exist in the world right now, they’re the biggest.
Changes in crude explain more than a fifth of the S&P 500’s volatility, according to an analysis by Evercore ISI. That’s the most of any macro influence the firm tracks, including correlation between stocks, investor sentiment, and the shape of the yield curve.
25,200 in U.S.Most new cases today
-26% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.12 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23