Stocks spiraled down with falling crude prices at Monday’s midday trading. The Dow Jones Industrial is down 250 points. The S&P 500 and Nasdaq are also tanking. Energy stocks are getting hit the hardest. Exxon Mobil (XOM) and Chevron (CVX) are leading the blue chips lower. Even airlines which have performed well off falling oil prices are slipping. Delta (DAL) and Southwest (LUV) are down 1.5%. Delta reported its December traffic declined by 4.5%. American Airlines (AAL) is also losing ground. Separately, the airline’s pilots union agreed to accept a sweetened tentative deal that would boost their pay by more than 26%. There are some bright spots in midday trading. Boston Scientific (BSX) is rising sharply higher after an upgrade from JPMorgan (JPM) to OVERWEIGHT.
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