Scoreboard: Slippery oil

European markets slumped as falling oil prices hit energy shares and fuelled fears of deflation, while Wall Street retreated on global growth concerns.

In US economic data, industrial production rose by 1.3 per cent in November after advancing by 0.1 per cent in October -- marking the largest rise since May 2010. Capacity utilisation rose from 79.3 to 80.1 -- the highest reading since March. The New York Fed Empire State index fell from 10.16 to -3.58 in December -- the first negative result in almost a year. US NAHB Housing Market Index eased from 58 to 57 in December -- highlighting that home builder sentiment remained relatively optimistic. 

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