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US Stocks Drop as Oil Prices Retreat with USD

December, 22 2016
watermark Economic news

US stocks dropped in value after the Dow Jones Industrial Average index was unable to make significant progress towards 20,000 points due to a subsequent decrease in oil prices. In addition, the US dollar was unable to sustain its rally as the market prepares for the onslaught of the holiday season. The DJIA dropped to 19,943 points after losing by 31 points, while Oil prices plummeted following government data releases which showed a surge in US stockpiles after a five-week lackluster performance. Meanwhile, the JPY regained its footing in the market, and the USD finally retreated from its highest levels reached in more than a decade in relation to the EUR.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.