Stocks Give Back Early Gains Following More Energy Sector Weakness, Reduced Estimates for Global GDP
U.S. stocks have surrendered their early gains and were trading near their session lows Tuesday after crude oil and energy stocks took another fall amid lingering worries over the pace of global economic growth. The major indices all turned lower soon after the open as crude oil slid below $47 per barrel, amplified by a small miss for a housing market index and a downward revision in global GDP this year by the International Monetary Fund to 3.5% in 2015 from a prior call looking for 3.8% growth.
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