Oil Prices Drive Stocks Rout: Dow Sheds Nearly 400 Points

[Purveyor]

Source: NBC NEWS/AP

Plunging oil prices pounded U.S. stock markets again on Friday, with the Dow Jones industrial average closing down nearly 400 points, or more than 2 percent, and the other indices taking similar beatings.

The Dow closed down 390.90 points, or 2.39 percent. The Standard & Poor's 500 index and Nasdaq Composite both also lost more than 2 percent of their value, with the former shedding 41.55 points, or 2.16 percent, and the latter closing down 126.59 points or 2.74 percent.

Earlier the Dow had been down nearly 537 points.

The Dow and S&P 500 have now fallen about 8 percent this year, while the Nasdaq is off more than 10 percent.

Oil prices, which provided the markets with a respite by rallying on Thursday, were again the catalyst for sellers on Friday, as fears grew that Iranian oil would add to the worldwide glut.

Read more: http://www.nbcnews.com/business/markets/u-s-stock-market-dow-plunges-oil-prices-spiral-lower-n497276

[spinbaby]

1. Our retirement took a hit

With 401ks being the norm nowadays, a lot of retirements took a hit.

[bvar22]

2. Monday will be very interesting.

Thom Hartmann has predicted another collapse in 2016.
He even wrote a book, The Crash of 2016: The Plot to Destroy America--and What We Can Do to Stop It"


http://www.amazon.com/The-Crash-2016-Destroy-America/dp/0446584827

[mahatmakanejeeves]

3. Markets closed for MLK? NT

[bvar22]

4. Then Tuesday will be a very interesting day. NT

*