NEW YORK (CNNMoney) -- The price of oil was the big talker on StockTwits on Thursday, following the news that the International Energy Agency was releasing 60 million barrels of oil into the market.
The drop in oil took the broader market with it, with the Dow plunging more than 200 points, with the biggest laggards among the blue chips being Exxon Mobil ( , Fortune 500) and Chevron ( , Fortune 500).
StockTwits users had mixed opinions on the IEA's decision. While some said 60 million barrels could help relieve the recent supply disruptions caused by the ongoing unrest in the Middle East, others saw it as a poor policy decision, noting oil was already well below the $114 a barrel it hit earlier this year.
Outside of the energy market, investors also focused on Thursday's digest of mostly-disappointing economic data. Weekly jobless claims rose more than expected to 429,000 claims while May new homes sales slipped 2%.
There was plenty to talk about.
bespokeinvest Today's drop in oil is an annualized benefit of roughly $36 billion based on US consumption. S&P 500 has lost $200 billion today alone.
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