Steep Sell-Off in Crude
Crude oil has fallen along with other risk assets in afternoon trading on Tuesday. NYMEX crude futures lost 2.44% in the Tuesday trading session, closing at $83.89. 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 (NYSE: USO) closed down a little over 2 percent Tuesday at $31.52. The sell-off in crude has coincided with a general fall in the stock market, with the Dow trading down 90 points and sitting near session lows in the afternoon session. The Dow closed Tuesday down 83 points from Monday's session.
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