The FTSE 100
Another day, another China worry
What's driving the indexes down? The Hang Seng saw a steep sell-off in energy stocks. Chinese oil giant CNOOC
What about Europe's woes?
Over in Europe, another sector was swooning. The FTSE's loss is being led by financials. Barclays and Royal Bank of Scotland were the index's two biggest losers, both down over 3% in late trading. There doesn't appear to be any specific news targeting any financial firms -- though the U.K. house price index fell by 1% -- so this looks like investors selling out of a troubled sector on day when the VIX, or fear index, is soaring 10%.
Back to the United States
In the United States, media outlets are blaming jobless claims for the drop. While jobless claims did miss forecasts, they still continued falling. My guess is that while this is a convenient source to blame for the drop in U.S. markets, the drop in the S&P is just a continuation of worries in Asia and Europe. In company-specific news in America, struggling retailer Best Buy
Keep searching for energy opportunities
Energy companies like CNOOC might be taking a nosedive today, but that doesn't mean there isn't opportunity across the energy space. For better ideas, I invite you to take a look at the top oil stocks recommended by Motley Fool analysts in a recent special free report: "3 Stocks for $100 Oil." The report won't be available forever, so we invite you to enjoy a free copy today. You can access it by clicking here. Fool on!
Eric Bleeker owns shares of no company listed above. The Motley Fool owns shares of Best Buy. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.