NEW YORK (AP) — The Dow Jones industrial average has plunged more than 530 points and is in a correction amid a global sell-off sparked by fears about China’s slowing economy. Oil tumbled below $40 per barrel for the first time since the financial crisis.
The Dow Jones industrial average fell to 16,459.75, and ended down 3.1 percent on Friday. The Standard & Poor’s 500 index dropped 64.84 points, or 3.2 percent, to 1,970.89. The Nasdaq slid 171.45 points, or 3.5 percent, to 4,706.04.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
That more than anything else (though the Seaway pipeline’s massively increased capacity which came online in January is another death nail) …will make sure Keystone XL remains dead.
Meanwhile, oil companies across the globe are falling all over themselves to pass the savings on to consumers.
Looks like the Fed will not be raising interest rates at September’s meeting.
Maybe not even December’s…
August sell offs are not unusual. I think I am going to reserve judgment as to the importance and cause of this one.
Now would be the time to buy in