STOCK MARKET WARNING: Oil price slump signals DOOM for markets
A DRAMATIC fall in oil prices has sent waves of fear through markets amid warning signals a large stock crash is looming.
By LANA CLEMENTS
Thu, Mar 9, 2017
Britain’s FTSE 100 tumbled by almost 0.7 per cent, following crude oil’s four per cent fall, which experts said could be the beginning of a huge turnaround in stocks.
Oil prices are suffering amid concerns of global oversupply, with similar worries sparking a large sell-off at the beginning of last year.
Mining and commodity stocks were among the worst performers on the FTSE today.
Stocks have surged to record highs in recent weeks, driven by expectations of a huge spending drive by US President Donald Trump.
But many critics have questioned how much higher prices can reach.
Now it appears a number of red flags could be starting to show.