Wall Street in the red: oil drops, back to risk-off?

Wall Street was down having partially recovered the sell-off while oil remained a dominate factor.

The theme was back to risk-off. Oil and telecoms set off a wave of supply across the board with WTI down back onto the $50 handle and breaking below the 10 dma at 50.82. DXY was up to the highest levels since March and moved by 0.4% to close at 98.32, helped along by the ECB's President, Mario Draghi's, comments on their monetary policy who essentially left markets in suspense in relation to potential for further QE before 2017, adding to the uncertainty post the final presidential debate yesterday for the US shift today.

The S&P 500 index finished down 2.95 points, or 0.1% at 2,141.34, with telecoms down a 2%. The Dow Jones recovered the 74 point sell-off earlier in the session and ended lower by 40.27 points, or 0.2% to 18,162.35. Meanwhile, the Nasdaq fell by just 4.58 points in the end, or 0.1%, to close at 5,241.83, after being down by as many as 30 points earlier in the session.