oil prices: Oil prices fell nearly 1.0 per cent on Friday, and have now seen the longest stretch of daily declines since 1984, on rising global supply and evidence of a slowing world economy, according to Nine News Australia. The United States formally imposed punitive sanctions on Iran this week, but granted eight countries temporary waivers allowing them to keep buying oil from the Islamic Republic. To improve your experience update it here News World China worries send Wall Street tumbling9 06am Nov 10, Street's three major stock indexes lost ground on Friday, after a week of recovery from the October sell-off, as oil prices fell further and more evidence of a slowing Chinese economy was reported. Oil is spooking the market. The Dow Jones Industrial Average fell 201.92 points, or 0.77 per cent, to 25,989.3, the S&P 500 lost 25.82 points, or 0.92 per cent, to 2,781.01 and the Nasdaq Composite dropped 123.98 points, or 1.65 per cent, to 7,406.90. If oil prices are going to go lower that's another sign that the global economy is going to slow its growth, said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.
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