US stock futures drop, oil falters despite output deal

The Wall Street Journal | Chong Koh Ping and Chitra Somayaji: U.S. stock futures slid Monday amid thin trading volumes, while oil prices faltered as a multinational agreement to cut crude production failed to assuage concerns that global oil markets will stabilize as the coronavirus pandemic erodes energy demand.

Futures linked to the S&P 500 index shed 1.3%, suggesting U.S. equities may open down after the New York opening bell. Stock benchmarks in Tokyo, Shanghai and Seoul closed lower, while markets in Europe, Australia and Hong Kong remained closed for the Easter holiday.

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