The stock market shrugged off the turmoil in oil as well. The S&P 500 rose nearly 15% in 1986 and the Dow gained about 23%even though crude prices plummeted more than 40%.
Related: OPEC vs. the U.S.: Who will blink first on oil?
The same thing happened in the late 1990s during the height of the tech boom. Oil prices plunged 40%.
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