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Contracts on the S&P 500 fell 0.2% as shares of oil companies including Occidental Petroleum (OXY), Apache Corporation (APA) and Diamondback Energy (FANG) dropped in early trading. Dow futures dropped more than 100 points as shares of Chevron (CVX) lagged.
U.S. West Texas intermediate crude oil futures (CL=F) dropped more than 4% Monday morning to hover around $65 per barrel, extending a more than 7.5% weekly decline last week. Brent crude (BZ=F), the international standard, also declined by 4%. Other commodities also dipped Monday morning, including with copper, silver and gold futures each moving lower by at least 1%.
The moves came amid mounting concerns over coronavirus infection rates and new restrictions in China, a major demand center for global commodities.
The world's second-largest economy has implemented new measures including flight cancellations and other curbs on travel in some of the country's hardest-hit areas to try and limit the spread of the virus. China's National Health Commission last confirmed 125 new infections as of Sunday, up from 96 from a day prior. A savvy investor diversifies its portfolio. There are many ways to invest. It's not all stocks and bonds. Learn a little bit about alternative investments.
On September 16th we will be talking about this on Inversionistas Hispanos 2021 in Lake Nona (Orlando, FL) with other investment specialists.
SOURCE: YAHOO! FINANCE
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