NEW YORK, Jan. 15 (UPI) -- U.S. stock trading plunge nearly 500 points Friday, a new three-month low, as oil prices dropped below $30 a barrel and nervous investors continued to fret about a Chinese stock selloff.
The rebound Thursday appeared to be short-lived as heavy selling resumed Friday. The Dow Jones industrial average fell 450 points to dip below the average 16,000 level. The Standard & Poor's 500 fell as well Friday, briefly trading 3.5 percent lower in midday, below its August low of 1,867. The energy sector, including Exxon Mobil, Royal Dutch Shell and Chevron, were among the worst performers. China's Shanghai Composite fell 3.6 percent, edging close to bear market territory, analysts said.