Oil tumbles further into bear market, hits lowest price in 4 years as coronavirus fallout continues

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Oil's bear market is on track for its worst week in four years.

The global spread of coronavirus has rattled a market that was already vulnerable to the outbreak.

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Oil fell to its lowest price since July 2017, just the latest in a slew of dismal benchmarks for the commodity that's been in a bear market all week amid coronavirus fears.

Brent crude, the global oil benchmark, fell as much as 4.2 , briefly breaking below 50 a barrel, which is a level not seen since 2017, The Wall Street Journal reported. It pared those losses sligthy to trade down 2.4 that still puts it on track for its worst week in four years. See the rest of the story at Business InsiderNOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruptionSee Also:BLACKROCK: Coronavirus fears have upended the most enduring drivers of stock returns. Here are 3 ways to stay afloat and beat the market.'It's a clear bubble': A former Goldman Sachs hedge fund chief sounds the alarm on flailing stocks and warns the nefarious effects of coronavirus have 'only just started'A Wall Street firm lists its 5 best hedges for an unusual coronavirus-driven market crash and shares what to do if it's successfully contained

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