Stocks slide as oil tumbles, S&P lowest in almost 2 years

The AP reports:

U.S. stocks slumped Wednesday as the price of oil suffered its worst one-day drop since September, and the Standard & Poor's 500 index fell to its lowest level in almost two years.

Investors are worried that low oil prices mean there's not that much demand for fuel. That would be a sign that growth in the global economy is slowing down. Stocks in the U.S. started sharply lower following widespread selling overseas, and looked like they were headed for huge losses. At one point the Dow Jones industrial average fell as much as 565 points.

After a late recovery, the Dow closed down 249.28 points, or 1.6 percent, to 15,766.74. The S&P 500 index fell 22 points, or 1.2 percent, to 1,859.33. That is its lowest closing price since April 2014.

Just a reminder the next time Barack Obama and Hillary Clinton talk about how everything is better.