HOUSTON (ICIS)--US-listed shares of chemical companies fell on Monday as the Dow Jones Industrial Average fell sharply amid worries about a surge in coronavirus cases.
The table below shows the major indices followed by ICIS.
|Dow Jones Industrial Average||27,685.38||-650.19||-2.29|
|Dow Jones US Chemicals Index||658.33||-17.36||-2.57|
|S&P 500 Chemicals Industry Index||663.89||-16.91||-2.48|
The declines in the stock market followed reports that new cases of the coronavirus are reaching a record in the US.
These followed worries about the disease in Europe, which have led to restrictions.
Ireland, Italy, Spain, France, Germany and Slovenia are some countries in the region that have imposed short-term lockdowns or movement restrictions. Cases also increased in Greece, Poland, Hungary and Belgium in the week.
Restrictions could slow down the economic recovery and reduce demand for plastics, chemicals and fuel.
OPEC raised the possibility it might extend its cuts in oil production to compensate for lower demand caused by a second wave of lockdowns across the world.
Crude prices fell as shown in the following table.
Below shows the US-listed shares followed by ICIS.
|$ Change||% Change|
|Axalta Coating Systems||26.19||-0.58||-2.17|
Additional reporting by Nazif Nazmul and Andrew Putwain
Thumbnail image by Shutterstock
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