Oil also puts Wall Street lower – Telegraaf.nl

Oil also puts Wall Street lower – Telegraaf.nl

NEW YORK (Reuters) – US stocks Wednesday took a big step back. The ever falling oil prices led to a negative mood among investors. Earlier in the day also proved the European and Asian stock markets can not withstand the drop in prices of ‘black gold’.

The Dow Jones ended the trading 1.5 percent lower at 17533.15 points. The S & amp; P 500 fell 1.6 percent to 2026.14 points and the Nasdaq gave 1.7 percent price to 4684.03 points

Oil cartel OPEC had a large share in the malaise on the trading floors.. It lowered its forecast for oil demand next year. Which is expected to reach 28.9 million barrels per day, more than 1 million barrels less than the production target where the oil exporters last month were upon. The demand for OPEC oil would thus at the lowest level of the past twelve years.

Brent Oil

The price of a barrel of US oil fell 3 , 9 percent to $ 61.31. Brent oil cost 64.65 dollars a barrel, down 3.3 percent.

Logically had oil prices affect companies that are directly related to the sector. So lost oil company ExxonMobil 3 percent, while rival Chevron 2 percent returned it. Service to the oil and gas industry Schlumberger (minus 2.7), Baker Hughes (minus 2.4 percent) and Halliburton (minus 3.5 percent) also took a step back. On the other hand benefited airlines; thickness as the share American Airlines 1.3 percent.

Food Scandal

Yum! Brands rose 6.2 percent in the red after a new profit warning. The parent company of fast food chains KFC, Pizza Hut and Taco Bell continues to suffer from the effects of a food crisis at restaurants in China. Twitter lost 1.9 percent. The company was overtaken in the number of users by Instagram, part of Facebook. Instagram now has more than 300 million users, compared with 284 million for Twitter. The share Facebook posted 0.9 percent.

The euro was traded for $ 1.2444, up from $ 1.2423 at the close of the European markets earlier in the day.

class=”clear”