Low Gas Prices = Stock Market Woes

Do you like seeing those low prices at the pump? But do you know exactly what it is doing to the stock market?

Well, stocks sold off broadly on the first day of the first full trading week of the New Year. U.S. crude fell below $50 a barrel, hitting a new 5-1/2 year low.

The further drop in energy stocks like Chevron and Petrobras led the markets lower. But Allianz Global Investors U.S. investment strategist Kristina Hooper says don’t buy the beaten down energy stocks just yet and here is why!