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News Link • Economy - Economics USA

STOCKS CRUSHED, DOW FALLS 335: Here's What You Need To Know


First, the scoreboard:

Dow: 16,659.3, -335, (-2%)

S&P 500: 1,928.2, -40.7, (-2%)

Nasdaq: 4,378.3, -90.2, (-2%)

And now the top stories on Thursday:

1. It was red across the board for the markets on Thursday. The Dow lost more than 300 points and the S&P 500 and Nasdaq lost more than 1.9%, forfeiting all of their gains from Wednesday's rally. The price of crude oil also fell further, moving below $86 a barrel for the first time since 2012, as the broader commodity sector continues to get crushed. Precious metals including gold and silver rallied on Thursday, with both gaining more than 1.5%.

2. The sector that came under serious pressure on Thursday was energy stocks, particularly coal stocks, with a number of companies in that sector falling more than 6%. Leading losses for coal stocks was Walter Energy, which lost more than 11%, as that company has seen its market cap fall from more than $1 billion at the beginning of the year to about $100 million now, a more than 90% decline.

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