Reuters
- Asian stocks and US futures took a hit as oil prices dropped another 14% on Tuesday, despite optimistic rises in US stocks as states prepare to re-open.
- Oil futures slumped after the largest U.S. oil exchange-traded fund said it would sell all its front-month crude contracts to avoid further losses as prices collapse.
- MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was down 0.3%. Shares in China <.CSI300> fell 0.7% and South Korean shares <.KS11> fell 0.22%.
- U.S. crude <CLc1> skidded 14.24% to $10.96 a barrel while Brent crude <LCOc1> fell 4.05% to $19.18 per barrel.
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TOKYO/NEW YORK (Reuters) - Asian shares and U.S. stock futures dipped into the red on Tuesday, erasing earlier gains as a renewed decline in oil prices overshadowed optimism about the easing of coronavirus-related restrictions seen globally.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was down 0.3%. Shares in China <.CSI300> fell 0.7% and South Korean shares <.KS11> fell 0.22%.
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