Oil Market Meltdown Sends Energy Stocks Crashing

The market meltdown continued on Thursday, with stocks across the board in retreat. Oil prices were down more than 4 percent in early trading, falling to their lowest levels in more than a year. WTI plunged below $47 per barrel, and at the time of this writing, Brent was flirting with sub-$50. President Trump’s press conference on Wednesday did little to assuage fears, as he downplayed the threat at a time when the virus was quickly spreading. Around the time of his press conference, the first diagnosis in the U.S. not directly related to…