Oil tumble hits equities, near bear market confirmation
Source: Reuters
Global equity markets dropped to their lowest levels since 2013 on Wednesday to put them on pace for one of their worst monthly performances on record, as oil once again tumbled to 13-year lows.
The MSCI World equity index slumped 2.6 percent to its lowest level since July 2013. The index has already dropped 11 percent in January, which if sustained would be the worst monthly loss since October 2008, the month after Lehman Brothers went bankrupt.
The declines left the index down 20.8 percent from its high on May 22, confirming a bear market on an intraday basis, generally defined as a drop of more than 20 percent.
Wall Street tumbled more than 2 percent, with each of the 10 major S&P sectors down more than 1 percent, led lower by a drop of more than 4 percent in the energy sector. Nearly 200 stocks in the benchmark S&P were down 20 percent or more from their 52-week high.
Read more: http://www.reuters.com/article/us-global-markets-idUSKCN0UY01Q
$26.50 a barrel.
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over to the bond market and get some protections--------------------- are put it in gold, silver, or cash---------------------because commodities are not the place to be in right now...........................
