The 2016 stock market rout intensified Thursday with stocks plunging at the open with the Dow down more than 200 points as investors spooked by plunging bank stocks in Europe, a further slide in oil prices and angst over Federal Reserve interest rate policy dumped stocks and fled to the safety of havens such as
The perfect storm working against markets picked up steam overnight, with bank stocks in Europe getting crushed again after a profit warnings from French bank Societe Generale sparked fresh fears abouth the health of Europe banks, struggling under the weight of weak growth, low interest rates and fears of rising bad debts. Adding to the angst was another swoon in oil prices, with U.S.-produced crude slipping another 3% and below the $27 per barrel mark to $26.64.
DEFINITELY keep an eye on market news.