Steep Sell-Off in Crude

Crude oil has fallen along with other risk assets in afternoon trading on Tuesday. At last check, NYMEX crude futures had lost 2.40% and were trading at $83.95. Earlier in the day, the futures broke through a short-term support level between $85.00 and $84.80 and continued to fall. The United States Oil Fund ETF

was last trading down a little more than 2% to $31.50. The sell-off in crude has coincided with a general fall in the stock market, with the Dow last trading down 90 points and sitting near session lows.