Another rout today with the Dow falling still another 130 points, again as oil continues to plummet, today with crude losing another 4.2% and the global markets reacting with alarm, especially in anticipation and anxiety over the likelihood of Greece leaving the euro zone if their anti-EU party wins the election that is three weeks off.  Some mildly disappointing domestic reports today also point to the possibility of a slowing economy in the 4th quarter.  These added to the slide but the oil glut crisis is, of course, the primary driver of this latest pullback.  To put things in perspective, though, the same thing happened in Q3 and when the actuals belied these forecasts, the market zoomed again.  The good news is that gold, which has been on an almost continous decline for the past few years, has been climbing again in the last few weeks.  Pity those who sunk everything into gold when everyone was in a panic a few years ago -- they have all lost about a third of their investment due to their lack of faith in this historic bull market.  Volume today was quite robust at 8.3 billion shares.

Wall Street ends down fifth session; oil prices fall further

BY CAROLINE VALETKEVITCH

DJ:          17,371.64  -130.01            NAS:      4,592.74  -59.84 S&P:      2,002.61  -17.97

NEW YORK Tue Jan 6, 2015 6:56pm EST

(Reuters) - U.S. stocks ended lower for a fifth session on Tuesday as data showed slower growth in the U.S. service sector and oil prices fell further.

The S&P 500's losing streak was its longest in about 13 months, but the index ended off the day's lows, having fallen as much as 1.4 percent earlier, at one point breaking below the 2,000 level for the first time since Dec. 17.

Data on Tuesday pointed to slowing growth in the fourth quarter. The pace of expansion in services moderated in December and new orders for manufactured goods fell for a fourth consecutive month in November.

The S&P 500 is down 4.2 percent for the last five sessions, with the Dow and S&P 500 suffering on Monday their biggest drops since early October.

Among the day's biggest drags, the S&P energy sector .SPNY fell 1.3 percent as oil prices slid further on mounting worries about a supply glut. U.S. crude CLc1 settled at $47.93 a barrel, down 4.2 percent on the day. Shares of energy names tumbled, including Southwestern Energy (SWN.N), down 5 percent at $24.71, as brokerages continued to cut price targets.

"It seems to be about oil prices. The big debate out there is what does it mean and is there this massive global economic slowdown," said Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago.

"But besides that, economic news has been modestly disappointing," he said.

The Dow Jones industrial average .DJI fell 130.01 points, or 0.74 percent, to 17,371.64, the S&P 500 .SPX lost 17.97 points, or 0.89 percent, to 2,002.61 and the Nasdaq Composite .IXIC dropped 59.84 points, or 1.29 percent, to 4,592.74.

An election in Greece, which may trigger its exit from the euro zone, is about three weeks away, increasing the difficulty for the European Central Bank to move towards quantitative easing as it attempts to stabilize the region's economy.

Among gainers, AOL Inc (AOL.N) shares rose 3.4 percent to $46.25 a day after a report that Verizon Communications (VZ.N) approached AOL about a potential acquisition or joint venture.

About 8.3 billion shares changed hands on U.S. exchanges, above the 5.5 billion average for the last five sessions, according to BATS Global Markets.

Declining issues outnumbered advancing ones on the NYSE by 2,076 to 1,011, for a 2.05-to-1 ratio; on the Nasdaq, 2,117 issues fell and 657 advanced for a 3.22-to-1 ratio favoring decliners.

The S&P 500 posted 14 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 38 new highs and 73 new lows.