NEW YORK — Another plunge in the price of oil is driving stocks sharply lower.
Energy companies led the decline as crude dipped below $50 a barrel Monday.
Other stocks also fell as traders worried that the drop could indicate a weaker global economy and possibly lead to a dangerous, wider drop in other prices in the economy.
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The Dow Jones industrial average lost 331 points, or 1.9%, to 17,501. It was down as much as 357 earlier.
The Standard & Poor's 500 fell 37 points, or 1.6%, to 2,024. The Nasdaq fell 56 points, or 1.2%, to 4,671.
In Europe, the euro sank to a nine-year low as traders worried that Greece might leave the currency union. European markets closed sharply lower.