Saudi Arabia, meanwhile, just raised the stakes in its oil production standoff with Russia. Saudi Aramco said Wednesday that it received a directive from the Ministry of Energy to boost its oil production to 13 million barrels per day from 12.3 million barrels per day. Brent crude futures, the global oil benchmark, scaled back gains after the announcement. Wednesday's stock market losses come after a largely positive day for Asia and for Wall Street, when major indexes posted significant gains. And Tuesday's market gains came after even more historic declines.

Source: CNN March 11, 2020 00:24 UTC