Stocks tumble with drop in oil
U.S. Stock markets dropped significantly on Friday as investors tried to assess what effect dropping oil prices and slow growth in Europe will have on the economy and if now is the right time to take profits for what is turning out to be a fairly strong fourth quarter. Although lower oil prices will certainly affect oil stocks, many argue that the broad benefits to the overall economy far outweigh the negative effects to the oil industry. As this article states, many analyst believe that falling oil prices will have a positive impact on consumer spending, a huge driver to domestic GDP. For a complete transcript of the Los Angeles Times article please CLICK HERE.
