Components. And the rest of the market went along for the downhill ride. The Dow Jones Industrial average declined 253 points to 17,495. Nasdaq dropped 68. And the s p 500 fell 31. As for domestic crude, it crossed closed, excuse me, just below 35 a barrel. 34. 95. Brent crude trading not far from 11year lows. Bob pisani takes a look now at the pressure from crude thats building over stocks. Its about the dollar and oil again. For the second time in as many days the market started on a positive note but then headed south when the dollar rallies and oil dropped and we closed at our lows. Its a lower for longer issue. Many believe oil will stay lower for longer, well into 2016. So if oils at 35 six months from now a lot of exploration and Production Companies might go out of business because they wont be able to get the financing to keep exploring. In part this is a supply problem. Saudi arabia has refused to cut production and its trying to drive u. S. Shale producers out of business. T
Components. And the rest of the market went along for the downhill ride. The Dow Jones Industrial average declined 253 points to 17,495. Nasdaq dropped 68. And the s p 500 fell 31. As for domestic crude, it crossed closed, excuse me, just below 35 a barrel. 34. 95. Brent crude trading not far from 11year lows. Bob pisani takes a look now at the pressure from crude thats building over stocks. Its about the dollar and oil again. For the second time in as many days the market started on a positive note but then headed south when the dollar rallies and oil dropped and we closed at our lows. Its a lower for longer issue. Many believe oil will stay lower for longer, well into 2016. So if oils at 35 six months from now a lot of exploration and Production Companies might go out of business because they wont be able to get the financing to keep exploring. In part this is a supply problem. Saudi arabia has refused to cut production and its trying to drive u. S. Shale producers out of business. T