A slide in the price of crude leaked into the equity markets, prompting a rocky start to trading after the first positive week of 2016.
Winners and losers
Stocks slipping today include Chesapeake (CHK), Mircon Technology (MU), and Caterpillar (CAT). The industrial equipment manufacturer took a hit after Goldman Sachs (GS) downgraded the stock, citing expectations of slowing industrial machinery sales.
On the other hand, today's big winners include Mattel (MAT), Wynn Resorts (WYNN), and Tyco (TYC). The security systems company is jumping on plans of a merger with Johnson Controls. The combined company will be based in Ireland, taking an estimated $150 million off its annual tax bill.
Twitter in trouble?
Another stock in focus today was Twitter (TWTR). Troubles continue for the social media company as four top executives are reportedly leaving the company. And Twitter is facing increasing pressure as other social networking sites slowly chip away at its real-time news platform, particularly in the area of sports. Yahoo Finance's Dan Roberts has more in the video above.
What to watch tomorrow
• The Federal Open Market Committee begins its two-day meeting. This is the first meeting since the Fed raised its target interest rate range in December.
• January consumer confidence numbers will be released at 10 a.m., giving investors an indication of the amount of optimism consumers feel about the overall state of the economy.
• Earnings season continues, with Apple (AAPL) reporting after the bell. The tech giant is widely expected to report a slowdown in sales of its latest iPhone.