HONG KONG (AP) — The ruble extended its slide to a new record low Tuesday as the slump in oil prices rattled Russia’s economy. Asian stocks slid after Chinese manufacturing contracted this month but European markets inched higher and Wall Street was poised to rebound.
ENERGY: Oil prices are at five-year lows as supply booms while energy demand wanes. Benchmark U.S. crude was down $1.38 to $54.53 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.90, or 3.3 percent, to close at $55.91 on Monday. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.96 to $59.25 in London.