Oil Prices Drop Below $50 a Barrel; Dow Plunges Nearly 330 Points
Stocks fell sharply today, especially the Dow which ended the day down about 330 points as oil prices continue to fall which in turn spooks investors. Crude oil is now below $50 a barrel and many analysts are predicting prices to drop even further. Falling oil prices aren't only negatively effecting the stocks, it is also costing big oil companies billions. It has cost big oil companies approximately $44 billion thus far and analysts are now drastically reducing what they think energy firms will earn in comparison to their previous forecasts.
Word on the Street
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- Upgrades and downgrades from top analysts.
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