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Wall St. slumps more than 1.5 percent as oil plumbs seven-year low

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. Global shares were lower amid concerns that weakness in the Chinese currency could weigh on the global economy and on companies with strong export ties to China.
Source: Yahoo Finance

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