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Dow plunges more than 300 points

Friday, December 18, 2015 - 01:11

Stocks took another hit Friday sending the Dow to its lowest level in two months. Jeanne Yurman reports.

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U.S. stocks ended the day on a sour note. The Dow losing well over 300 points plunging to its lowest level in two months. For the week, the three major averages closed lower. Falling crude prices has been a bearish factor for the markets lately. Today it was the expiration of multiple futures and options contracts. Nick Colas from Convergex: SOUNDBITE: NICK COLAS, CHIEF MARKET STRATEGIST, CONVERGEX IN (ENGLISH) SAYING: "Well, certainly, oil has been volatile, but it's actually getting a little bit of an uptick today. So, we're seeing most of the volatility come from quadruple witching as we kind of sort through the day and work towards what hopefully will be an orderly close." Shares of Merck slipped after a European Commission decision on one of its drugs was delayed. And despite Star Wars: The Force Awakens breaking box office records, its parent Walt Disney saw its shares move lower after an analyst downgrade. Darden Restaurants, however, moved higher after the parent company of The Olive Garden raised its full-year profit forecast. And Royal Carribean shares rose on positive earnings results. In Europe stocks also ended the day lower after a volatile session.

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Dow plunges more than 300 points

Friday, December 18, 2015 - 01:11