Regarding oil, its price fell like a stone in 2008 along with the stock market. One reason I remember was that banks and funds that invested in oil took big losses. I was reading another way that oil influences companies is when they have hedged by buying their oil on a forward contract basis at the highs. Here's SP500 vs Crude Oil. I see some correlation (but of course, that doesn't prove causation):
Weekend 22/12/18 Chat and Charts, page-50
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Last
8,295.1 |
Change
68.800(0.84%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,226.3 | 8,319.4 | 8,226.3 |
| XJO (ASX) Chart |