With oil, Dow, Nasdaq and S&P are down.

Crude prices are lowest in more than five years. Now it's below $58 a barrel.

The Dow had a toughest weekly performance in more than three years. It faced a 3.8% loss with 3000 points this week.The S&P 500 also faced a tough week. It was down more than 3.5% for the week, biggest drop since May 2012.  The Nasdaq got a 2.7% drop.


All analysts  and investors are searching answer of:

is this a pullback of 10% from recent highs?

Even though market volatility has returned in the second half of the year, investors seem to be scared again. The market started to slide down from mid-September through mid-October before staging a sharp rebound. It fostered the Dow to hit a new all-time high just a week ago due to strong U.S. jobs report.

Still, many investors were predicting that the Dow would soon top 18,000 for the first time. And with the course of events, there was a sharp sell-off in oil and it changed everything. Crude prices are lowest in more than five years. Now it's below $58 a barrel. This initiated slide in energy stocks.
Not only oil other stocks also went down. Verizon (VZ, Tech30) fell 1% Friday and is now down 6% this week. Smaller telcos Windstream (WIN) and Frontier (FTR) were laggards in the S&P 500.

In a greater perspective, phenomenon of depletion on the oil price is spreading in other sector too. Yet, investors are still searching for silver lining in the market.