US stock markets are rebounding from earlier losses as oil prices sink.
Crude is quickly becoming the story of the day, though it's not clear why oil prices have fallen so sharply. WTI is down more than $6 to the lows of the month.
The sharp fall in crude has led to some buying in equities. The Nasdaq is now 1% higher on the day. The index was up more than 1.5% earlier, then plunged on rising Treasury yields. It's getting a second life with oil falling in a hopeful sign that price pressures at the pump could be near a peak.
