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Brent fell 11 percent last week and hit its lowest level since September 2017, while U.S unique mens cufflinks uk online. futures slid to their lowest level since July 2017, bringing the decline in the two contracts to more than 35 percent for the quarter. The macroeconomic picture and its impact on oil demand continue to pressure prices. Global equities .MIWD00000PUS have fallen nearly 9.5 percent so far in December, their biggest one-month slide since September 2011, when the euro-zone debt crisis was unfolding. The U.S.-China trade dispute and the prospect of a rapid rise in U.S. interest rates have brought global stocks down from this year’s record highs and ignited concern that oil demand will be insufficient to soak up any excess supply..
The Organization of the Petroleum Exporting Countries and allies led by Russia agreed this month to cut oil production by 1.2 million barrels per day from January. Should that fail to balance the market, OPEC and its allies will hold an extraordinary meeting, United Arab Emirates Energy Minister Suhail al-Mazrouei said on Sunday unique mens cufflinks uk online. “Oil ministers are already taking to the airwaves with a ‘price stability at all cost’ mantra,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore..
(Reuters) – The S&P 500 tumbled to the brink of a bear market on Monday as U.S. stocks extended their steep sell-off in a pre-holiday shortened session, with investors rattled by the U.S. Treasury secretary’s convening of a crisis group and by other political developments. All three major indexes ended down more than 2 percent the day before the Christmas holiday unique mens cufflinks uk online. The S&P 500 finished about 19.8 percent below its Sept. 20 closing high, just shy of the 20 percent threshold commonly used to define a bear market..
Treasury Secretary Steven Mnuchin called top U.S. bankers on Sunday amid the pullback in stocks and said he was calling a meeting of financial regulators to discuss ways to ensure “normal market operations.”. Investors also were grappling with the federal government shutdown and reports that President Donald Trump privately discussed the possibility of firing the Federal Reserve chairman. “The headlines we are seeing today, yesterday, over the weekend are not great,” said Vinay Pande, global head of trading strategies at UBS Global Wealth Management unique mens cufflinks uk online.
GRAPHIC: Thousands of U.S. stocks are hitting lows for the year on a daily basis – tmsnrt.rs/2Sk4ph4. “The market is concerned about what is happening in D.C.,” he said. “In the face of a large correction in the market, there seems to be disarray and disunity and people aren’t speaking with one voice, which I think is discouraging to anybody in the market.” unique mens cufflinks uk online. The Dow Jones Industrial Average .DJI fell 653.17 points, or 2.91 percent, to 21,792.2, the S&P 500 .SPX lost 65.52 points, or 2.71 percent, to 2,351.1 and the Nasdaq Composite .IXIC dropped 140.08 points, or 2.21 percent, to 6,192.92..