Investors Compare Drop in Oil Prices to the Dot-Com Bust of 2000
PUBLISHED ON: Dec 15, 2014
As oil prices continue to drop, so does the stock market. Oil prices fell below $56 a barrel today and the Dow fell 100 points; the S&P 500 and Nasdaq also finished the day in the red. Typically this time of year brings investors great joy as the Santa Rally is in full swing, but this year many investors are beginning to think that the dropping oil prices will turn Santa into a Scrooge. Since 2004, the U.S. stock market has posted gains seven out of ten years during the final two weeks of December, including a 3.7% gain last year.