December 11, 2015 / 9:44 PM / 3 years ago

BUZZ-U.S. stocks weekly: Fried in oil

** Overwhelmed by plunging crude prices, the S&P 500 index drops 3.8 pct for the week and retreats into the red again YTD

** Meanwhile, investors stockpile cash, bet on European equities, and flee from emerging markets and HY bonds ahead of next week’s critical FOMC summit

** Wound in energy deepens with sector now down 11 pct this month, while Kinder Morgan and Freeport McMoran finally respond to slumping commodities markets

** Rout in energy spills over to financials, 2nd worst sector, as regional banks with heavy exposure to O&G producers stagger

** While majors see slower Q4 trading and HY bond tumult weighs on asset managers

** In tech, sector slides more than 4 pct as Qualcomm is accused of hindering its rivals and lingering whispers of slowing iPhone builds weigh on Apple’s supply chain

** M&A accounts for some positive moves: single-best performer Keurig Green Mountain scores a 79-pct takeout premium, while $130 bln tie-up of Dow Chemical and DuPont could spark more deals

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