US stocks rise but fall in oil could have severe consequences

US stocks rose on Thursday. The S&P 500 edged up 0.2 percent.

Other markets continued to fall, however.

The STOXX Europe 600 fell 0.3 percent, its third consecutive decline.

Asia also saw losses, with the Nikkei 225 in particular tumbling 1.3 percent. The Shanghai Composite Index fell 0.5 percent.

There was also no respite for oil. US crude oil fell 1.1 percent.

With oil prices now at the lowest since 2009, Henrik Drusebjerg, chief strategist at Carnegie Investment Bank thinks there will be “severe consequences” for energy companies.