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Oil Falls Below $28 A Barrel, Markets Slide03:51

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The New York Stock Exchange (NYSE) stands in lower Manhattan at the end of the day on Jan. 15, 2016 in New York City. (Spencer Platt/Getty Images)closemore
The New York Stock Exchange (NYSE) stands in lower Manhattan at the end of the day on Jan. 15, 2016 in New York City. (Spencer Platt/Getty Images)

U.S. crude oil fell below $28 dollars a barrel today. Oil prices have dropped more than 20 percent this year, and it's only January.

Stocks around the world also fell. The Dow and Nasdaq both dropped more than 2 percent in the morning, and the Stoxx Europe also fell around 2 percent.

Here & Now's Robin Young looks at what's happening with CNN's Maggie Lake.

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