Investor: "Terrifying" Consequences if Oil Drops to $40
As the price of oil drops below $50 for the first time since 2009, noted investor Jeffrey Gundlach warns that a fall to $40 dollars a barrel could spark "terrifying" geopolitical consequences.
The February contract for West Texas Intermediate briefly fell to a session low of $49.95 earlier today, while Brent crude also hit a 5- -year low.
However, according to influential investor Gundlach, founder of Doubleline Capital, a fall to $40 could set in motion devastating global developments.
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