Stocks tanked to close sharply lower on Friday. The energy sector pulled the S&P 500 down 2%, while the Dow Jones Industrial Average tumbled more than 300 points. The blame was solely on crude oil prices which closed out the week with their worst weekly performance of 2015. Oil tanked after the International Energy Agency warned of a slowdown in global oil demand and an unrelenting oversupply of crude. Activision (ATVI) slid after research firm NPD said physical video game sales in the U.S. fell 7% in November, piling on top of a 3% drop a month earlier. On the plus side, the video game developer’s ‘Call of Duty: Black Ops III’ was November’s best-selling title.
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