US stocks sink as oil tumbles to fresh low

New York - US stocks fell again Tuesday on another stormy day for global financial markets as oil prices plummeted to a fresh multi-year low.

At the closing bell, the Dow Jones Industrial Average stood at 17 368.04, down 133.61 points (0.76%).

The broad-based S&P 500 dropped 18.23 (0.90%) to 2 002.35, after spending a good chunk of the session below 2 000. The tech-rich Nasdaq Composite Index sank 59.84 (1.29%) to 4 592.74.

US oil prices tumbled to a fresh 5.5-year low of $47.93 a barrel. Other worries pertained to the drop in US Treasury bond yields and the eurozone.

"The market doesn't like uncertainty and the volatility in oil and the volatility in interest rates have certainly created uncertainty," said David Levy, portfolio manager at Kenjol Capital Management.

"Also, the situation in Europe is also very uncertain and we're lacking a positive catalyst as of today."