- WTI extends fall toward $50 on Friday.
- All 11 major sectors are in the negative territory in early trade.
- Wall Street to close the day early.
With major European equity indexes suffering losses on the day, Wall Street opened in the negative territory. As of writing, the Dow Jones Industrial Average and the S&P 500 were both down 0.5% while the Nasdaq Composite was losing 0.1%.
Out of the 11 major sectors, which are all in the red at the moment, the S&P 500 Energy Index is dropping 2.45% as the crude oil sell-off continues. The barrel of West Texas Intermediate today slumped to its lowest level in more than 13 months at $50.60 and was last seen trading at $51, losing 5% on the day. Additionally, the S&P 500 Materials and the S&P 500 Financials indexes are both falling more than 1% in the early trade to increase the bearish pressure.
Markets will be closing the day early at 1:00 PM (eastern time) due to the Thanksgiving holiday.
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