CNN: “Oil crash sends DOW diving 400 points”

Oil keeps diving and its taking Wall Street with it


1/20/16 – “Crude crumbles below $27…freaking Wall Street out.”  “World markets plunge as oil drops below $28 a barrel.”

TruNews reports

“With under three hours of trading remaining in U.S. Markets, the Dow Jones Industrial Average (DJIA) is trading 500 points down, with the West Texas Intermediate (WTI) indexing oil below $27.

The Nasdaq composite briefly traded more than 3.5 percent lower.

The S&P 500 briefly fell more than 3.5 percent to hit its lowest since February 2014, falling below its October 2014 intraday low of 1,820.

Energy fell 7 percent, raising further concerns about an industry stricken with bankruptcies, layoffs and other cutbacks..

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, hit a high of 32, its highest since Sept. 1st 2015.

30 stocks declined for every advancer on the New York Stock Exchange, with an exchange volume of 470 million and a composite volume of 2.1 billion in late-morning trade.

WTI fell below $27 a barrel to hit its lowest level since May 2003 amid a global glut. Traders said contract expiration around the 2:30 p.m. ET settle would likely contribute to volatility in oil markets.

Overseas markets also endured a rough day of trading. Japan’s Nikkei index entered a bear market, down 20 percent from its peak in June, and European benchmarks lost between 3 and 4 percent.”



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