Wall Street dips as oil extends selloff

Wall Street was sharply lower on Tuesday as falling oil prices heightened concerns regarding the health of the global economy and investors sought safer investments. Shares of Exxon fell 3 percent after the oil major reported its smallest quarterly profit in more than a decade. "We still haven't broken the correlation between oil and equities and we are yet to find a bottom in oil prices," said Jeff Carbone, co-founder of Cornerstone Financial Partners in Charlotte, North Carolina.