Here’s What Happens to Stocks if Oil Prices Hit $35

Keep an eye on oil prices. The closely watched commodity's stabilization near $50 a barrel over the past few months was a huge sigh of relief to many investors after a move into the $20s tanked global stock markets earlier this year. With oil prices falling in recent days, investors are worried about the implications for the stock market. 'I think it will cause uncertainty and a tremendous amount of volatility in the equity market,' said Lindsey Piegza, chief economist at Stifel Fixed Income, when asked what would happen to stocks if oil moves back into the $30s. 'That $35 mark is a psychological level - reigniting fears of the fragility of the global market place.' Investors tend to interpret falling oil prices as a sign that global growth and demand is weakening. TheStreet's Scott Gamm reports from Wall Street.