US equity markets retreated and settled near their session lowsas a crash in crude prices overshadowed building optimism around plans for a staggered easing of global lockdowns in the wake of the coronavirus pandemic- Dow fell -592-points or -2.44%. Boeing Co (down -6.75%) led the index lower, with energy heavyweights Chevron Corp (down -4.13%) and Exxon Mobil (-4.72%) both dropping more than >4%. The broader S&P500 shed -1.79%, with Utilities (down -3.89%), Real Estate (-3.74%) and Energy (-3.29%) leading all eleven primary sectors lower. Short bets against the popular SPDR S&P 500 Trust rose to more than >US$68B last week, marking the highest level since 2016, according to the Wall Street Journal, citing data from analytics firm S3 Partners. The NASDAQ lost -1.03% after briefly trading in positive territory earlier in the session. Luxury retailer Neiman Marcus Group Inc. is preparing to file for bankruptcy protection as soon as Wednesday (22 April), with plans to restructure its debt in hopes of reopening most of the chain’s stores after the coronavirus pandemic, according to a Wall Street Journal report citing people familiar with the matter.
