The stock market deepened its losses in late afternoon trading as the Fed's Beige Book was not enough to change investors' concerns about the economy. The energy sector traded up, while Netflix and airline stocks surged on earnings. The Nasdaq composite's decline grew to 1.2%, leading the major indexes downward. Read More...
Reuters
Oil prices settle lower on U.S. supply, lower China demand
(Reuters) -Oil prices settled lower on Tuesday on fears of higher U.S. supply combined with an economic slowdown and lower Chinese fuel demand. Brent crude futures settled down $1.59, or 1.7%, to $90.03 per barrel, while U.S. West Texas Intermediate (WTI) crude settled down $2.64, or 3.1%, to $82.82 per barrel. China, the world’s top crude oil importer, indefinitely delayed release of economic indicators originally scheduled to be published on Tuesday, indicating to the market that fuel demand is significantly depressed in the region.
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