U.S. Stocks Tumble As Global Equity Rally Falters, Oil Weakens

U.S. Stocks Tumble As Global Equity Rally Falters, Oil Weakens

Global equities failed to extend to the U.S., “where the Dow Jones Industrial Average fell 250 points after oil erased a surge of almost 4 percent.” The S&P 500 Index hit its lowest closing level since September, while the Dow erased a two-day advance.

Oil’s failure to sustain a rally of more than 3.5 percent overwhelmed global equities, amid concern that China is struggling to manage its slowing economy. “While the tumult seen in the financial markets have shown signs of receding since Chinese policy makers intervened to stabilize the yuan, demand for havens returned Wednesday as U.S. equities failed to add to global stock grains.”

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