Asian stocks set to sink after historic US oil rout


In equities markets, Japan's Nikkei futures were up 0.52% at 23:19 GMT while Australian S&P/ASX 200 futures were down 0.99% at 20:59 GMT. The Nikkei 225 index closed up 3.15% at 19,897.26​​​ on Monday. The futures contract is down 2.02% from that close​. MSCI's gauge of stocks across the globe shed 1.15%, following broad declines in Asia and slight gains in Europe driven by the healthcare sector.

WASHINGTON: Asia shares were poised to track a Wall Street tumble on Tuesday after U.S. crude futures turned negative for the first time in history, crushed by a spectacular collapse in oil demand as the coronavirus pandemic derails the global economy.

Global equity markets slid and bond prices rose as traders dumped the expiring crude futures for May, leading the contract to plunge 306% to lows never before seen.

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