Rolling coverage of the latest economic and financial news, as Opec supply cuts deal fails to prop up crude prices
- Latest: US retail sales in record slide
- IMF warns government borrowing will surge
- IEA: oil demand faces record slump
- Crude hits 18-year low
- Profits slide at Goldman and Citi
Another sign that economic activity has plummeted:
Wall Street has opened sharply lower, as anxiety over the Covid-19 recession hits stocks.