U.S. markets continue slide, oil settles under $30

Claman on Call: FBN's Liz Claman with an after-hours web exclusive on the markets, oil prices and Chipotle.

U.S. Markets Continue Slide, Oil Settles Under $30

By Markets FOXBusiness

A major market meltdown and nothing to stop the bleeding. The Dow taking a punch to the gut, down 536 points at the low of the session to close down 390 points. This is the 13th day in a row of triple-digit swings for the index.

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And its worst start to a year ever. The Nasdaq and S&P closing at their lowest in 15 months. The S&P falling 41 points to 1,880 and the Nasdaq closing down 126 points to 4,488.

The sectors weighing on the S&P the most were materials, financials, and technology.

Oil plunging below the critical level of $30 dollars a barrel. Economic worries out of China and the prospect of Iran unleashing its oil are deepening fears of an extended supply glut.

Oil slumped to fresh 12-year lows. taking this year's losses to more than 20 percent. Oil tanked nearly six percent today to settle at $29.42 a barrel.

Where was the green in this sea of red? None other than the burrito-maker struggling with the fallout of several outbreaks -- Chipotle.

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The chain rose to session highs after it said it would briefly close all stores to talk about food safety. All locations will be closed for the crucial lunchtime hours on February 8th so Chipotle can discuss the changes with employees.

Chipotle has plummeted 40 percent since the first of six outbreaks started last July. Those involved norovirus, salmonella, and E. Coli.

We've got a massive earnings week coming up -- 42 companies in the S&P 500 are coming out with numbers. Big names like Morgan Stanley, Bank of America, Verizon, Starbucks, and Netflix are all on deck.

What do you think?

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