Global Stocks Plunge Amid br Oil Crash and Coronavirus Fear Global markets are taking a hit after a br failed deal between OPEC and Russia led to br the worst one-day crash in crude in decades. Saudi Arabia set off panic br within oil markets by br launching a price war. The Saudis are reacting to Russia's refusal to meet OPEC's efforts to rescue the oil market after a panic caused by the coronavirus outbreak. The S&P 500 (SPX) opened 6.9 lower. br The Dow (INDU) fell more than 1,800 points and br the Nasdaq Composite (COMP) was down 7.1. The impact of the coronavirus has weighedbr heavily on investors as the number of br confirmed cases continues to rise.