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Stocks Turn Negative After Oil Slips Below $35 Per Barrel

Wall Street has surrendered its early gains, with the post-FOMC rally extinguished by another supply-related sell-off for energy stocks. West Texas Intermediate crude oil was down more than 2%, again dragging shares of energy companies in the the S&P 500 sharply lower, followed by heavy losses for material and consumer stocks. The Dow Jones Industrial Average was posting a triple-digit loss led by losses for component company Caterpillar ( CAT ) along with declines for financial stocks after their big run-up yesterday afternoon.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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