After The Bell: Stocks Plunge on Lower Oil, China Weakness and Geopolitical Worries
(CBS) -- Stocks closed sharply lower Wednesday as concerns about global economic growth, lower crude oil prices and heightened geopolitical tensions put traders in a selling mood. The S&P 500 lost 26, the NASDAQ shed 55 and the Dow Jones industrial average closed down 252 points, settling to 16,906.
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"I think the two key issues weighing on equity markets right now are concerns about 2016 corporate earnings and continued fears about China and its impact on global economic activity," says Chuck Carlson, CEO of Horizon Investment Services.
He also noted that the three main engines of stock market performance are inflation, interest rates and corporate profits.
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