Falling oil prices drag US stock market lower

Falling oil prices drag US stock market lower


1 photo

Estimated read time: 1-2 minutes

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — Energy companies are leading a broad decline in the stock market as the price of oil heads lower.

U.S. indexes are heading for a fourth straight decline, leaving the market on track for its worst week since early August.

The Dow Jones industrial average was down 93 points, or 0.6 percent, to 16,710 as of noon Eastern time Thursday. It dropped 238 points the day before.

The Standard & Poor's 500 index fell 14 points, or 0.8 percent, to 1,931. The Nasdaq composite fell 40 points, or 0.9 percent, to 4,381.

Energy stocks fell the most as the price of crude oil slid.

Spice maker McCormick rose 2 percent after reporting earnings and revenue that came in ahead of what analysts were expecting.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast