Shares on Wall Street crumbled further in premarket trade on Monday as markets continued to be gripped by fears over the coronavirus outbreak and crashing oil prices. Following a collapse in talks between Saudi Arabia and Russia at the OPEC+ meeting in Vienna last week, the Gulf kingdom decided to engage in a so-called price war, cutting prices of its crude for April. The move triggered a 30% drop in crude benchmarks overnight. Treasury yields also tanked, with the 10-year US Treasury note dropping below 0.4% for the first time ever. The Dow was down 1,562 points at 4:39 am ET. At the same time, the S&P 500 fell 6.72% while the Nasdaq 100 lost 5.08%.