Aurora Business

Already trading around six-year lows on a prolonged slump, U.S. crude fell $1.48, or 3.7 percent, to $38.97 per barrel Monday afternoon. Earlier it dropped to $37.75. Oil hadn’t closed below $40 a barrel since February 2009, although it briefly traded below that level on Friday.

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A woman walks past an electronic stock board of a securities firm in Tokyo, Friday, Aug. 21, 2015. Tokyo’s Nikkei 225 plunged 2 percent in the morning session as Asian stocks fell further Friday after a survey showed Chinese manufacturing weakened this month. (AP Photo/Koji Sasahara)

The Dow Jones industrial average fell to 16,459.75, and ended down 3.1 percent on Friday. The Standard & Poor’s 500 index dropped 64.84 points, or 3.2 percent, to 1,970.89. The Nasdaq slid 171.45 points, or 3.5 percent, to 4,706.04.

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