London (CNN Business) 1. Oil watch: Investors will be keeping a close eye on oil Friday after it suffered its worst day since Christmas Eve on Thursday.

After starting the day above $61, US oil prices nosedived nearly 6% to a 10-week low of $57.91 a barrel.

Chevron CVX ExxonMobil XOM Hess HES andfell 2%, while oil drillers likeplunged more than 7%.

Fears that the trade war between the United States and China could get worse before it gets better are weighing on the oil market. The sector's fortunes are closely tied to expectations for global growth. There's also concern about signs that oil inventories are starting to build up.

US oil prices showed signs of stabilizing early Friday. Crude futures were trading at $58.64, up 1.3%.