KPIX CBS Evening News With Scott Pelley January 6, 2015 01:32:00
Why are the markets tanking? >> oil did breech a kind of psychological barier going below $50 a barrel. when you see oil fall that much, historically that has been associated with a significant economic downturn. the difference is really this time that you have a much bigger supply coming out of the united states. we've become the biggest producer of oil in the world. >> reporter: traders pulled out of energy-related stocks today but seemed to be searching for the right investments to take their place. while lower oil prices have been good for american consumers with cheaper gas putting an add...