home Finance, Oil Prices, Oil Stocks Stocks Drop as Deepening Oil Rout Hits Earnings; Treasuries Jump

Stocks Drop as Deepening Oil Rout Hits Earnings; Treasuries Jump

Stocks fell around the world, with the Dow Jones Industrial Average falling more than 250 points as oil’s renewed plunge toward $30 a barrel in New York rekindled concern that global growth is slowing. Treasuries rose with the yen.

The Dow average tumbled as Exxon Mobil Corp. fell after reporting its biggest earnings slide in more than a decade, while BP Plc was among the biggest losers in Europe after its quarterly earnings slumped 91 percent. Russia’s ruble led a retreat in high-yielding currencies after U.S. oil dropped as much as 4.6 percent. Yields on 10-year Treasurynotes sank below 1.90 percent.

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