Crude, Credit Crash As Stocks Suffer Worst Black Friday Loss Since 2010
23 November, 2018
Dow's worst Black Friday performance since 2010 and the S&P's 3rd worst Thanksgiving Week loss since FDR!!
WTI falls by 7.7% to settle Friday trade at its lowest since Oct. 9, 2017
Crude-oil prices carved out fresh yearly lows early Friday, deepening carnage in a commodity that already had futures for the U.S. benchmark and the international contract falling beneath closely watched levels.
Global benchmark Brent oil LCOF9, -5.45% and West Texas Intermediate are in a bear market, usually defined as a drop of at least 20% from a recent peak.
An explosive report published early last month detailing how Chinese intelligence managed to infiltrate hardware used by dozens of US companies and government agencies, from Apple to the Department of Defense, made clear one simple, if disturbing, fact: The US is losing the race to contain China's sprawling intelligence apparatus as it becomes increasingly embedded in the global tech and telecommunications infrastructure.