The Dow Jones Industrial Average closed the day with a loss of around 2,000 points Monday, part of a global market rout that saw spiraling sell-offs in the energy sector amid the biggest drop for crude oil since the Gulf War in 1991.
The blue-chip Dow saw its biggest points drop ever, down 7.8 percent, with the S&P 500 and the Nasdaq down by 7.6 percent and 7.2 percent for one of the worst days since the financial crisis.
Crude oil prices cratered by 25 percent after the world’s producing countries failed to strike a deal at a meeting between oil cartel members in Vienna last week. The stalemate continued over the weekend, with Saudi Arabia and Russia reportedly planning to ramp up production on their own terms after the current deal expires at the end of the month.
Where did we hear this before?
Just a few Tweets that haven’t aged well.
Monday’s final results: