Stocks ended Sharply Lower Wednesday with the DOW Tumbling 560 Points to close at 8469 after Negative Corporate Profit Forecasts. The Economic Downturn is drying up energy demand – Oil Prices Fell Below $68 a Barrel. Investors are worried that the “R” Word , Recession , an Economic Slowdown will Sweep the Globe.
The energy markets have also been weighed down by the weak stock market. Investors are more pessimistic about how long it will take the economy to recover from the current global financial meltdown.
The dollar’s strength this week , RELATIVE to other currencies , has contributed to oil’s decline. Investors often buy commodities like crude oil to hedge against a weakening dollar and then sell those investments when the dollar rebounds.
The World-Wide Economy hangs in the balance.