Following a week of turbulence and volatility, Wall Street got off to another slow start Monday thanks to the continued decline of oil prices.
As of 2 p.m., the Dow was down almost 100 points, as crude oil prices continued their decline—as low as $45.90 a barrel at one point.
Goldman Sachs cut its outlook for benchmark oil prices, another sign this crisis isn’t over yet.
The Chicago Board Options Exchange (CBOE) Volatility Index saw a jump of about 10 percent with the continued bad news out of the energy sector.
At the close of business today, Alcoa will issue its fourth-quarter earnings report—marking the unofficial kickoff of earnings season. Investors are wary of these reports—especially from the energy sector—in light of oil’s continued decline.
Here are Monday’s Wall Street numbers as of 3 p.m.:
Dow Jones Industrial Average: 17,644.67 (-92.70)
NASDAQ: 4,665.89 (-38.17)
S&P 500: 2,028.90 (-16.07)