U.S. stock markets opened to yet another dismal day Wednesday, with the Dow Jones Industrial Average down more than 250 points, the Nasdaq Composite Index dropping 1.5 percent, and the S&P falling 1.5 percent to nearly its lowest level since 2014. The stock market's plummet follows the continuing decline of oil prices, which have now reached their lowest levels in over 12 years and are expected to continue falling following the lifting of sanctions on Iranian crude oil exports.
Early Wednesday, U.S. crude oil dropped to under $28 a barrel, which the Associated Press reports is an indication of the global economy slowing down. So far in 2016, the Dow is down more than 8 percent and global markets remain tumultuous.
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