Tuesday, stocks were down yesterday but that's not the news. Oil dominated the business news yesterday and I observed something I've never seen in 41 years in the investment business. Crude oil futures fell in negative territory, down 300%. Holders of crude oil futures were paying people to take their contracts. Lack of storage was the problem. You can't take delivery when you have no place to store it. Oil is a great indicator of economic activity. The attached article gives details.
I am reminded of Mark Twain's quote, "“It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.”
― Mark Twain
Two big companies reopen, two file for bankruptcy and three states in the south announce they are reopening.
National activity crashes to lowest level since 1970's.