Shares of shale oil drillers collapsed by 25%-50% today. Their bonds got massacred. Saudi-Russia price-war strategy appears successful in wiping out investors in the US shale-oil sector.
“If the situation of generalized panic continues, thousands of businesses, especially small ones, will first enter a liquidity crisis, then close their doors.”
Estimated hit to global air passenger revenues quadruples to $113 billion. Stocks of top-seven US airlines plunged 30% in 15 trading days, after getting massacred today.
