Tuesday, 8 December 2015

Wall St slides as oil prices tumble to near seven-year low

US stocks fell on Monday, led by the S&P energy index's biggest one-day percentage drop since late August as oil prices slid to their lowest point in nearly seven years. US crude oil futures CLc1 settled down almost 6 percent while Brent crude LCOc1 fell more than 5.3 percent after OPEC's meeting last week failed to address a growing supply glut. 

The S&P energy sector energy index closed down 3.7 percent after dropping as much as 5 percent earlier in the session and oil majors Exxon and Chevron were the biggest drags on the S&P, with almost 3 percent declines. 

The major US indexes pared losses late in the session.

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