Wall Street’s losing streak continued for a 3rd consecutive day as the week remained in the red. The S&P 500 dropped into negative territory for the year, while the Dow has now lost over 353 points this week alone. The NASDAQ is down nearly 119 points so far this week. Once again oil, as it has been for all three days of the trading week was one of the main reasons for the negative vibe from investors today. Oil closed down at $37.16 a barrel, its lowest since Feb. 2009.
Sharon Stark, managing director and fixed income strategist at D.A. Davidson told CNBC:
“I think that the market’s looking at oil and really just waiting for the Fed to make their move next week.”
With only a couple weeks remaining in the year, Citigroup has tempered its outlook for stocks next year. Watch more from CNBC below.
Here are the final numbers from Wednesday, 12/9/15 on Wall Street:
Dow Jones Industrial Average: 17,492.30 (-75.70/ -0.43%)
NASDAQ: 5,022.87 (-75.38 / -1.48%)
S&P 500: 2,047.62 (-15.97 / -0.77%)