The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

New York (AFP) – The Dow plummeted more than 300 points Friday as U.S. stocks took cues from a rout in European equities following another big drop in oil prices.

At the closing bell, the Dow Jones Industrial Average stood at 17,292.84, down 303.50 points (1.72 percent).

The broad-based S&P 500 sank 32.35 (1.59 percent) to 2,002.98, while the tech-rich Nasdaq Composite Index slumped 54.57 (1.16 percent) to 4,653.60.

Losses in European markets were even deeper. Britain’s FTSE 100 index fell about 2.5 percent and equity markets in France and Germany each lost more than 2.7 percent.

U.S. oil prices fell to a fresh five-year low of $57.81 a barrel after the International Energy Agency cut its oil-demand forecast for 2015.

Michael James, managing director of Wedbush Securities, said lower oil prices benefit consumers, but traders have been unnerved by the speed of the free-fall in crude prices.

“Projects might be put on hold in the oil sector and the are questions for the companies that bring financing,” he said. “That creates uncertainty and that creates selling.”

AFP Photo / Stan Honda

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Randy Rainbow Trolls Trump With New Parody

Image via YouTube

Randy Rainbow is back with a fresh song parody, "Lock Him Up Yesterday."

Set to the tune of “Yesterday” by Paul McCartney and John Lennon, it pokes fun at Donald Trump for claiming the actual word “yesterday” is a “hard” word for him to pronounce clearly.

Keep reading... Show less

Former Vice President Mike Pence, left, and former President Donald Trump

Youtube Screenshot

Former Vice President Mike Pence, asked if he would testify before the House Select Committee on the January 6 Attack, said if invited he would “consider” participating.

“If there’s an invitation to participate, I would consider it,” Pence said Wednesday morning at a political event in New Hampshire, a state presidential hopefuls visit early and often. “It would be unprecedented in history for a vice president to be summoned to testify on Capitol Hill, but as I’ve said, I don’t want to prejudge.”

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}