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Slump in Energy Prices Led to Equities Selloff

03.02.2016 Oil N' Gold 0

The correlation between energy prices and stock markets remains high. With an oil inventory report triggering further selloff in oil prices, equities fell as energy shares got hammered. Wall Street dropped with DJIA and S&P losing -1.8% and -1.87% respectively. Nasdaq plunged -2.18% at close. Stock markets were weighed down by the energy companies as their latest earnings results were disappointing.