President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Stocks were hit by a rush of selling this week that landed all major indices back in correction territory. The S&P 500, and are down a respective 12 percent, 12.7 percent and 12.4 percent from their 52-week high. As investors weigh on whether stocks will resume their bull run, one technician warns there could be significant downside ahead.
"Our 2016 outlook was 'stealth bear market is revealed' and we think very quickly that it's becoming apparent that we are in a bear market," Jonathan Krinsky, MKM Partners' chief technician, told CNBC's "Fast Money" recently. "The S&P 500 is now down more than 11 percent from its May high."
"I think that ultimately this third test of the August low probably gives way and the next level [of support] is 1,820," added Krinsky. During Friday's swoon, the broad market index had its worst day since Aug. 24, and pierced that month's lowest levels.
"But more importantly, for the first time in three years we are in a downtrend," Krinsky added. "The 200-day moving average is firmly to the downside, so if you are trying to buy the dips it's equivalent of selling the rallies over the last three years."
For Krinsky, the worst-case scenario for the S&P 500 could be a re-test of the breakout from 2007, which comes in around 1,575. "It seems scary but that's only about 25 percent off the highs and that's well within the confines of normal pullbacks," he said. That's a more than 16 percent move from Friday's price of around 1,885.
Furthermore he pointed to the , which is already in a bear market, as a "leading indicator" for where large-cap stocks are heading.
"The Russell 2000 is already down 22 percent from its highs," Krinsky said. "When the S&P 500 didn't take out its August low, the Russell did. It's making lower lows and we think the Russell goes back and re-tests its 2011 highs of 875." He said it's when the small-cap index gets to that 875 level when the S&P 500 is in real jeopardy.
In this kind of tumultuous environment, Krinsky suggested investing in low-volatility names like and consumer staples and avoiding high beta stocks.