Morning Report 22 Apr 20: Oil prices continue to plunge weighing on global stocks

US sharemarkets fell on Tuesday as the turmoil in the crude oil market and poor company earnings results dented market sentiment. The energy sector (-1.7%) declined for the seventh time in eight sessions as oil prices plummeted. Not helping sentiment were shares of IBM, which slipped 3% after the company reported a 3.4% decline in first quarter revenue from a year ago. Insurer Travelers Companies reported a 25% fall in quarterly profit as catastrophe claims jumped. Coca-Cola (-2.5%) said its current- quarter results would take a severe hit from low demand for its soft drinks. The Dow Jones index closed lower by 631 points or 2.7%. The S&P500 index fell by 3.1% and the Nasdaq index fell by 297 points or 3.5%