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Dow Jones drops 240 points as oil slide hurts energy sector

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The sell-off in equities continues today as the sliding oil prices is weighing over energy and mining shares.

    At the time of writing, Dow Jones Industrial Average (DJIA) was down 1.52% or 250 points. The S&P 500 index was down 0.48% or 28.40 points. The tech index Nasdaq was down 1.6% as well.

    The DJIA Oil and Gas index was down 1.81%. Bank index dropped 2.16%, while Financials were down 1.9%. The utilities sector, traditionally viewed as a safety play, was the only one of the 10 main sectors to avoid losses.

    Shares in Caterpillar fell 3.6% and were the top losers in the DJIA index. JP Morgan and Goldman Sachs shares were down at least 2.5% each.
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