Oil Continues to Fall Taking Stocks With It

Stocks took a major beating today with all three major U.S. exchanges losing more than 1% if their value during the session.  S&P futures were lower today as crude oil futures drifted lower overnight.  The International Energy Agency report that the persistent oil glut will likely continue well into  2017.MBS bonds had their monthly rollover last night causing an additional 22 basis point reduction in their price.  The Dow closed down 258 points on the day.