Authors: Jeanette Torres
(NEW YORK) -- There seems to be no end in sight to the rollercoaster ride for financial markets -- and its not just stocks.
Since Monday, the price of gold has shot up more than a $100 an ounce. The commodity, considered a safe-hafen investment in unstable economic times is now over $1,770 an ounce.
Oil prices, on the other hand, continue to plunge, and while that may be good for consumers, it's hammering energy shares. Oil now stands below $80 barrel, and if that holds, expect a plunge in prices at the pump.
Overseas, Asian stock markets were shaky overnight into Tuesday. They were down, but then recovered some of their losses. Japan's Nikkei ended 1.7 percent lower, while Hong Kong's main index tumbled 5.7 percent.
In the U.S., stock futures rose but then fell Tuesday morning.
The Federal Reserve is expected to meet on Tuesday and could take action to stabilize the economy and attempt to calm markets. The meeting comes a day after the Dow Jones Industrial Average dropped 634 points -- the biggest point loss in a single day since December 1, 2008.
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