US STOCKS-Wall St extends selloff as falling oil weighs

martes 2 de febrero de 2016 13:52 GYT

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By Tanya Agrawal

Feb 2 (Reuters) - U.S. stocks extended their selloff in early afternoon trading on Tuesday as falling oil prices heightened concerns regarding the health of the global economy and investors sought safer investments.

Brent oil fell nearly 6 percent, while U.S. crude briefly slid below $30 per barrel, as hopes for a deal between OPEC and Russia on output cuts faded.

Shares of Exxon fell 2.4 percent after the oil major reported its smallest quarterly profit in more than a decade. Chevron also fell 3.3 percent. The stocks weighed the most on the S&P energy index.

"We still haven't broken the correlation between oil and equities and we are yet to find a bottom in oil prices," said Jeff Carbone, co-founder of Cornerstone Financial Partners in Charlotte, North Carolina.   Continuación...