Tecass9 Nov 2018 15:46
The S&P energy index shed 1.8 percent as U.S. crude price entered "bear market" territory, falling more than 20 percent since early October and below $60 a barrel.
Oil majors Exxon Mobil Corp and Chevron Corp fell more than 1 percent, while a drop in price of copper, considered an economic bellwether, led to a 4.4 percent loss in miner Freeport McMoran Inc.
"A lot of investors look at oil prices as the general indicator of the global economy, so it being weak is not a good sign," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.