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US stocks fall sharply as oil weighs

FXStreet (Córdoba) - US stocks fell sharply on Friday and posted its largest daily decline in more than two months pressured by oil prices slump, which scored fresh 6-year lows near $35.00 a barrel.

The Dow Jones Industrial Average lost 310.1 points, or 1.76%, to 17,264. The S&P 500 fell 39.9 points, or 1.94%, to 2,012. The Nasdaq Composite shed 111.7 points, or 2.21%, to 4,933.

Next week, the Federal Reserve will decide on monetary policy, with a rate hike expected for first time in nearly ten years, being the keynote event of the week.

No happy end in sight for commodities - Commerzbank

Commodity prices look set to tread water next week. While the current oversupply on the oil market argues against a price recovery, next year’s prospective lower supply does not argue for a further slump in prices either, said Barbara Lambrecht analyst at Commerzbank. She added that base metals are unlikely to benefit from the fact that there is no major gap between supply and demand on most markets at present. The gold market appears to have priced in the first Fed rate hike after almost ten years.
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