Oil and Wall Street went down together for the first time- start of US recession?
Sam Adelton
Oct. 3, 2006

Something happened really interesting in Wall Street. The Dow (especially Nasdaq) went down as crude oil futures tumbled.

Normally the street cheers as oil tumbles. This was the first time that oil and stocks tumbled together.

According to some analysts, this signals weakness in economy. Most likely the stagnation part of the stagflation is manifesting itself. The biggest question that econmists are privately asking themselves, is oil price weakness and total collapse in natural gas price telling us something about the economy?

It is possible the energy is telling that we are already in a recession. The stock market will probably confirm the same early next year. But by that time the market will be near a temporary bottom.

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