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 sector this year, spiked on 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
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 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
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
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread 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
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The Dow Jones industrial average marked its biggest single-day point drop on Monday afternoon, plunging nearly 1,600 points during trading hours before recovering to close down 1,175.
Officially the Dow fell 1,597, a 6.26 percent drop. But the index of 30 large U.S. companies was recovering some of that decline as the day headed toward the closing bell at 4 p.m. in New York.
The previous record drop during trading hours was 1,089 points on Aug. 24, 2015, a 6.6 percent drop. But in percentage terms, the worst sell-off in recent years was the "flash crash" of May 6, 2010, when the Dow temporarily plunged 998 points, or more than 9 percent. Trading would recover both days, but the Dow would still close down more than 3 percent on each of them.
These more recent events challenge the sharp market downdrafts seen during the worst days of the late-2008 financial crisis. On Oct. 6 that year, the market fell 800 points during trading hours, or 7.7 percent, before recovering to close down 3.5 percent.
The worst point drop for a single day was the 777 decline on Sept. 29, 2008, when Congress first failed to approve the government's bank bailout plan. It would later go on to pass that plan.