The Contagion of Energy Junk Bonds Spreads to Wall Street
By Wolf Richter
PostedDecember 12, 2014
Oil swooned again on Wednesday, with the benchmark West Texas Intermediate closing at $60.94. And on Thursday, WTI dropped below $60, currently trading at $59.18. It’s down 43% since June. Wolf Richter explains how falling price of oil bust contagion is spreading to Wall Street and the banks.