Several Federal Reserves' members speeches were scheduled today, but the main factor is oil. Oil, who is currently as at $41.50. This, because of the inventories excess build that are four times the expectations according to a release from U.S. government. This, happening, while we know many U.S. oil extractions point got closed by oil companies. Less supply, but still too much demand. Some feels it as a sign of weakening economy, while some others just sees an oversupply. This, combined with S&P 500 and Dow Jones below their 200-day average, accelerated the fall. The numbers now: Dow Jones is down -1.44% or -254.15 pts at 17,448.07 pts. S&P 500 is down -1.40% or -29.03 pts at 2,045.97 pts. NASDAQ Composite got -1.22% or -61.94 pts at 5,005.08, just above the psychological barrier of 5,000.
Bloomberg and the Telegraph detailed the events in oil about 24 hours ago ( http://www.bullmarketboard.com/thre...ng-US-production?p=34678&viewfull=1#post34678 ). Interesting machinations in the OPEC membership.
