“Dow slides… oil price war escalates”
March 11, 2020
“Dow Jones industrial average tumbled 700 points, or about 3 percent, at the open. Standard & Poor’s 500 futures sank 2.8 percent and the Nasdaq fell 2.4 percent…
Saudi Arabia on Wednesday announced its first oil production increase in a decade, with state oil giant Saudi Aramco moving to ramp up production to a record 13 million barrels per day, versus roughly 12 million barrels. The company did not give a timeline for the action but was responding to similar reports out of Russia Tuesday.
Oil prices, which had recovered somewhat after skidding 25 percent Monday, tumbled in response to the news. Brent crude, the global oil benchmark, sank more than 2.5 percent to about $36.30 per barrel in early trading…”
https://www.washingtonpost.com/business/2020/03/11/markets-economy-today-oil-coronavirus/
Oil is down and will probably continue on a downward trend for a while. At this point I think people should position themselves in the stock market for downward trends.