US stocks plunge as the price of oil continues to crumble
NEW YORK - Another plunge in the price of oil is driving stocks sharply lower.
Energy companies led the decline as crude dipped below $50 a barrel Monday.
Other stocks also fell as traders worried that the drop could indicate a weaker global economy and possibly lead to a dangerous, wider drop in other prices in the economy.
The Dow Jones industrial average lost 331 points, or 1.9 percent, to 17,501. It was down as much as 357 earlier.
The Standard & Poor's 500 fell 37 points, or 1.6 percent, to 2,024. The Nasdaq fell 56 points, or 1.2 percent, to 4,671.
In Europe, the euro sank to a nine-year low as traders worried that Greece might leave the currency union. European markets closed sharply lower.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Women Praying for Women: Prayer brunch set for Saturday
Home buyout process continues in Ascension Parish
Louisiana medical marijuana backers demand product by May 15
Appraisal reports almost complete for Gonzales federal buyout project
Teens caught breaking into pawn shop overnight; more than a dozen stolen...