Oil Prices Drive Stocks Rout: Dow Briefly Dives More Than 500 Points

January 15, 2016 6:17 PM

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A fresh plunge in oil prices after a one-day rally sent U.S. stock markets sharply lower on Friday, with the Dow Jones industrial average briefly declining more than 500 points before recovering slightly.

At 1 p.m. ET, the Dow was down 456.41 points, or 2.79 percent; the Standard & Poor's 500 index was off 53.12 points, or 2.76 percent, and the Nasdaq Composite Index was 162 points in the red, or 3.56 percent.

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