US STOCKS-Wall St on track for worst week in a month as oil falls

viernes 11 de diciembre de 2015 12:10 GYT
 

* Oil plunges to 7-year lows

* Fed to decide on interest rate hike next week

* DuPont, Dow Chemical fall after agreeing to merge

* Indexes down: Dow 1.25 pct, S&P 1.21 pct, Nasdaq 1.27 pct (Updates to open)

By Tanya Agrawal

Dec 11 (Reuters) - All three major indexes fell more than 1 percent on Friday and were on track for their worst weekly performance in a month as growing oversupply concerns dragged down crude oil prices to their 7-year lows.

The International Energy Agency said it sees the oil glut worsening in 2016 as demand slows and OPEC shows no signs of slowing production.

The steep drop in oil prices adds to investor uncertainty as the U.S. Federal Reserve prepares to raise interest rates for the first time since June 2006 at its meeting next week.

Adding to the somber mood, China's yuan fell to its lowest in 4-1/2 years on concerns about the country's slowing economy and expectations of a U.S. rate hike.   Continuación...