Stocks are having their worst start to a year in history,partly because of a plunge in the price of oil, but few economists see a repeat of the 2008 crisis aheadWall Street is drowning in oil. Stocks are having their worst start to a year in history in fraction because of a rapid plunge in the price of oil. The price of crude is down 28% this year already, and which in turn has dragged down energy company shares in the Standard & Poors 500 index by 13%,which has helped pull the overall index down 9%.This even though low oil prices and the cheap prices for gasoline and other fuels that result are wonderful for consumers and many companies. Related: No global economic crisis yet, but the ingredients are there Continue reading...
Source: theguardian.com