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[CNN] CNN 2016-01-19

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[Homework]CNN 2016-01-19

CNN student news. Let's start with US and global stock market. Averages had been swinging up and down wildly in 2016. Last week, the Dow Jones Industrial Average got off to its worst ever start of the year. It took another dive earlier this week, but gains some of those losses back yesterday. What is the biggest reason for the instability? It is fear, a popular saying is that Wall Street is governed by the emotions of fear and greed. When investors are afraid, they sell off stock shares, and that drag down the market. So what is causing all of these anxiety?

This is what a crash look like. And oil market collapse, from 108 dollars to thirty in just 18 months, to level not seen since 2003. Where is the bottom? Morgan Stanley says 20 dollars. RBS says 16. Standard Charters 10. It is a boon for drivers. It acts as tax free for consumers. But the fourth of the decline, so far so fast, is destablizing, bringing economic crisis to oil producers like Saudi Arabia, Venezuela, Russia, Nigeria, Iraq. Pink slip for engery workers, and potential bankruptcy for oil companies. Four reasons why this is happening. First, OPEC will not cut production. The world's largest oil producers are holding amount to see if other smaller producers will slow the pump, hoping they can gain or keep their market share for long run, but it cost them billions. Iran is about to start selling oil too. Second, China is spooking everyone. The world's second largest economy is swelling, it needs less fuel to run its economy, emerging market with fuel less as well. Third, the US is producing more oil than ever, largely created by the American shale oil boom and the crank and prices has not shut out too many producers yet. And finally the US dollar is strong. Crude oil trades in dollars, that means if the dollar get stronger, oil gets more expensive, for overseas buyers, that hurts demand and drags prices down further.           

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