WALL Street moved deep into the red in volatile trading on Wednesday, extending this year’s sell-off as oil prices continued to plummet unabated.
The
rout was across the board: all 30 Dow components and all 10 major
S&P sectors were in the red, with five down more than 3%. The
small-cap Russell’s 2000 index fell 2.7%.
The New York Stock
Exchange recorded 1,314 stocks hitting new 52-week lows, while 809 sank
to new lows on the Nasdaq, the most on a single day since August 24 for
both exchanges.
The beaten-down S&P energy sector’s 5% fall
led the decliners. Chevron dropped 5.3% and Exxon 3.2%. U.S. crude
prices sank 6.6% and Brent crude fell 4.7% as a supply glut bumped up
against bearish financial news that deepened worries over demand.
