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Stocks fall and oil tumbles into a bear market

“Adding to concerns, the Wall Street Journal reported a state-run think tank in Saudi Arabia is studying what an OPEC breakup would mean for the oil market” writes Finanzen Net Gmbh for businessinsider.com. Ian Shepherdson, the chief economist at Pantheon Macroeconomics, said he was slightly surprised the Fed didn’t mention the drop in stocks.West Texas Intermediate, the US benchmark, settled in bear-market territory — down 20% from its October high— trading just above $60 a barrel at session lows.In the latest sign of a booming job market, the Labor Department said unemployment claims remained near four-and-a-half decade lows last week, dropping by a thousand to a seasonally adjusted 214,000.
 
Source: businessinsider.com



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