Stocks Ended Sharply Lower, Oil Prices Settled Higher

U.S. stocks ended sharply lower on Tuesday, erasing the previous day’s gains, as investors monitored tentative efforts to reopen the economy. The Dow Jones Industrial Average fell 457.21 points, or 1.89%, to 23764.78. The S&P 500 lost 60.20 points, or 2.05%, to 2870.12. The Nasdaq Composite shed 189.79 points, or 2.06%, to 9002.55.

Oil futures finished higher Tuesday, with U.S. prices at a five-week high on expectations that falling production levels and a gradual revival in demand from a COVID-19 pandemic-related drop, will ease a global glut of crude that has slammed prices in 2020. West Texas Intermediate crude for June delivery rose $1.64, or 6.8%, to settle at $25.78 a barrel. July Brent crude added 35 cents, or 1.2%, t0 $29.98 a barrel.