Trader Peter Tuchman works on the floor of the New York Stock Exchange, Wednesday, June 21, 2017.(AP Photo/Richard Drew)
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Global stocks sank Wednesday as the energy sector took a beating from an oil-price slump. Crude prices slid further after diving more than 2 percent Tuesday on increasing fears of a global supply glut, as continued production in the U.S. and elsewhere offsets an OPEC output cut deal.Crude prices are considered crucial to the smooth running of world financial markets because the commodity oils the wheels of the global economy.Prices later recovered somewhat but resumed a downward trend Wednesday, even though U.S. oil inventories fell last week by a bigger than expected 2.45 million barrels and a drop in petrol stocks.Wall Street stocks were mixed Wednesday, with the Dow down 0.2 percent in late morning trading.
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