Why low oil prices hurt the stock market – but won't lead to a US recession

Stocks are having their worst start to a year in history, partly because of a plunge in the price of oil, but few economists see a repeat of the 2008 crisis ahead

Wall Street is drowning in oil. Stocks are having their worst start to a year in history in part because of a rapid plunge in the price of oil. The price of crude is down 28% this year already, which in turn has dragged down energy company shares in the Standard & Poor's 500 index by 13%, which has helped pull the overall index down 9%.

This even though low oil prices and the cheap prices for gasoline and other fuels that result are wonderful for consumers and many companies.

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