JOE WEISENTHAL
Oil got crushed yesterday. Then it bounced this morning.
Now, amid a broad market selloff, with the Dow off over 200 points, oil is selling off hard again. Here’s a multi-day chart, via FinViz, that puts things into perspective — both yesterday’s severe selloff and today’s.
The decline of commodities and the strength of the dollar is probably the biggest story in the market right now, as it’s a sharp change from the market regime that’s dominated for so many years (weak dollar, strong commodities).
There are multiple theories for the decline in commodities.
A slowdown in China is one popular theory to explain the selloff. The European slowdown (which has been exacerbated by Russia tensions) is also a culprit.
Also yesterday there was news that oil produced in key countries (including LIBYA) was more than expected.
没有评论:
发表评论