(CNBC) U.S. equities closed lower on Thursday, but well off their lows, as investors digested a massive global sell-off, falling oil prices, and chatter about a possible OPEC production cut.
The Dow Jones industrial average briefly fell 400 points in afternoon trading, as Boeing and Goldman Sachs weighed the most on the blue chips index.
However, the blue chips index bounced back sharply after Dow Jones cited comments from the energy minister of the United Arab Emirates on Sky News Arabia saying OPEC members were ready to cooperate on a production cut. Suhail bin Mohammed al-Mazrouei also said low prices were already forcing non-OPEC members to cap production.
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