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Stocks and oil prices plunge amid fears of weakening economy
By: Bill O'ReillyAugust 4, 2011
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STORY EXCERPT
Wall Street Journal: Commodities, currency and equities markets were in a state of near-panic Thursday, as central banks took increasingly drastic steps to salvage the global economic recovery. The Dow Jones Industrial Average is on track for its biggest single-day loss since December 2008, while oil futures on the New York Mercantile Exchange plunged below $87 a barrel to their weakest close since February. Even gold, which normally rises when investors' confidence is shaken, fell. "When there's this much bloodshed out there, nothing is impervious to this type of selling, not even gold," said Matt Zeman, head of trading at Kingsview Financial.
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