Closing Bell: Twitter Rebounds on Takeover Talk; Crude Slumps

Crude oil settled at its lowest level since May 2003, rattling equity markets in what was an extremely volatile day of trading. The Dow racked up a loss of more than 500 points at its lowest, though stocks staged a comeback in the final hour. The energy sector was one of the worst performers on markets after crude fell nearly 7%. Among the biggest losers, Exxon Mobil (XOM) tumbled more than 4%, while Chevron (CVX) sank around 3%. Twitter (TWTR) rebounded from a record low this afternoon on talk News. Corp (NWSA) could be interested in buying a piece or all of the social network. Advanced Micro Devices (AMD) tumbled after disappointing first-quarter guidance. The chipmaker said weakness in the Chinese economy as well as less demand for gaming consoles would hurt its semiconductor sales.