Don't Blame Oil, Exxon Or Chevron For Dow's 200-point Drop

MarketWatch Pulse

Investors shouldn't be so quick to blame the slide in oil prices, and the resulting drop in oil company shares, for Friday's selloff in the stock market. The Dow Jones Industrial Average was down over 197 points in midday trade. But the combined $2.33 loss in the shares of energy components Exxon Mobil and Chevron was taking off just 15 points from the index. Meanwhile, the shares of Goldman Sachs Group , IBM Corp. and Visa Inc. were shaving off 29 points, 28 points and 27 points, respectively, by themselves.

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