Stocks decline amid worries about falling oil prices
Stocks fell Friday as further losses in oil prices sparked fears of a global economic slowdown, but the major indexes were still on pace for solid weekly gains.
The Dow dropped 250 points as Caterpillar losses offset gains from Disney. The S&P 500 fell 1.3 percent, led lower by energy and tech. The Nasdaq lagged, sliding 2.1 percent as Facebook, Amazon, Netflix and Alphabet all traded lower.
West Texas Intermediate futures fell 1.8 percent to $59.57 a barrel, breaking below $60 for the first time since March. They were also fell further into bear-market territory, trading more than 20 percent below their 52-week high.
These sharp losses have rekindled worries about a possible slowdown in the global economy, which come as the Federal Reserve looks to further tighten monetary policy. The Fed on Thursday decided to leave its benchmark interest rate unchanged, as was expected, but comments by the U.S. central bank suggested it was on course to continue hiking rates.
https://www.msn.com/en-us/money/markets/stocks-decline-amid-worries-about-falling-oil-prices/ar-BBPtt3L