Page 2 - Meg Thomas News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Pelley good evening. This is our western edition. We saw something today we havent seen since the dependents of the great recession. The price of oil fell below 50 a barrel. It ended the day at 50. 04, the lowest close since spring of 2009. Have a look at this. Just since june of last year the price of oil has dropped by more than half. No one knows when the slide will end. On wall street, the dow fell more than 300 points. The s p nearly 38. In both cases a loss of nearly 2 . Elaine quijano is looking into why investors are worried. Reporter today marked the worst drop in the dow and s p since october. Analysts and traders say there was no one particular reason but the continued freefall in oil prices played a major role. Bill stone is chief investment strategist for pnc wealth management. Why are the markets tanking . Oil did breech a kind of psychological barier going below 50 a barrel. When you see oil fall that much, historically that has been associated with a significant economi

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