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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street stocks opened sharply lower Tuesday as the oil market remained under pressure and more large companies withdrew their earnings forecasts due to the uncertain economic outlook. About 15 minutes into trading, the Dow Jones Industrial Average was down 2.0 percent at 23,185.54. The broad-based S&P 500 shed 1.8 percent to 2,773.25, while the tech-rich Nasdaq Composite Index dropped 1.7 percent to 8,416.10. Analysts said crashing oil prices had undermined investor sentiment following a three-week period in which stocks rallied. On Monday, US oil futures finished in negative territory for the first time due to a glut of supply that has strained storage capacity in the US. "The negative print for May, and the further collapse in prices for June delivery (and beyond), is a pathway to weaker labor conditions in the energy sector for months to come (maybe years), as well as a warning sign for increased credit default risk in the sector," said Briefing.com analyst Patrick O'Hare. Meanwhile, Dow members IBM and Coca-Cola became the latest large companies to pull their earnings projections for 2020. IBM fell 5.4 percent after saying it would update the market "based on the clarity of the macroeconomic recovery at the end of the second quarter." Coca-Cola shed 1.3 percent as it warned that second-quarter sales would be pressured by the drop in "away-from-home" channels with the suspension of major sporting events and the closing of restaurants, movie theater and other public venues. jmb/cs
schema:headline	US stocks open sharply lower amid pressure on oil market
schema:mentions	IBM O'Hare International Airport S&P 500 Index World energy consumption Dow Jones Industrial Average Movie theater Coca-Cola Credit risk Macroeconomics Danica Patrick NASDAQ Composite Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-21 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	61 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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