Stocks Cut Losses on OPEC Deal Chatter - NBC New York
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Stocks Cut Losses on OPEC Deal Chatter



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    U.S. equities fell sharply Thursday as investors digested a massive global sell-off and oil prices fell further, CNBC reported. 

    The blue chip index briefly fell 400 points in afternoon trading before bouncing back sharply after Down Jones cited comments from OPEC members reporting cuts to oil production.

    The S&P 500 dropped about 1 percent, as financial fell. The financial sector was on track for its first five-day losing streak since August. 

    The Nasdaq composite turned positive shortly ahead of the close, as Amazon and Cisco Systems rose 3.5 percent and 10.7 percent, respectively.

    U.S. crude closed down 4.5 percent, or $1.24, at $26.21 a barrel, before paring losses in after-hours trading.