Markets Right Now: Energy stocks lead Wall Street lower

By The Associated Press | Posted - Mar. 14, 2017 at 3:20 p.m.



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NEW YORK (AP) — The latest on developments in financial markets (All times local):

4:00 p.m.

Stocks ended lower on Wall Street as another slide in crude oil prices pulled energy companies lower.

Marathon Oil slumped 3.3 percent Tuesday. Pioneer Natural Resources dropped 2.8 percent.

Valeant Pharmaceuticals slumped 10 percent after one of its biggest investors, Bill Ackman's Pershing Square, sold its entire stake in the company.

Pandora Media dropped 6.4 percent following reports suggesting that the company is not seeking to sell itself.

Small-company stocks fell more than the rest of the market.

The Standard & Poor's 500 index lost 8 points, or 0.3 percent, to 2,365.

The Dow Jones industrial average fell 44 points, or 0.2 percent, to 20,837. The Nasdaq fell 18 points, or 0.3 percent, to 5,856.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.60 percent.

___

11:45 a.m.

Energy companies are leading a moderate decline on Wall Street as the price of oil takes another turn lower.

Marathon Oil slumped 4.4 percent in midday trading Tuesday. Pioneer Natural Resources dropped 3.8 percent.

Pandora Media slumped 5 percent after the streaming music company announced it will launch an on-demand service to compete with Apple Music and Spotify.

Small-company stocks were falling more than the rest of the market.

The Standard & Poor's 500 index fell 8 points, or 0.3 percent, to 2,365.

The Dow Jones industrial average lost 22 points, or 0.1 percent, to 20,859. The Nasdaq composite fell 25 points, or 0.4 percent, to 5,850.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.60 percent.

___

9:35 a.m.

Energy stocks are leading an early decline on Wall Street as the price of oil takes another turn lower.

Marathon Oil slumped 3.9 percent in early trading Tuesday. Murphy Oil dropped 3 percent.

Streaming music company Pandora Media slumped 3.5 percent after the company announced it will launch an on-demand music service to compete with Apple Music and Spotify.

The Standard & Poor's 500 index fell 7 points, or 0.3 percent, to 2,365.

The Dow Jones industrial average lost 36 points, or 0.2 percent, to 20,846. The Nasdaq composite fell 21 points, or 0.4 percent, to 5,854.

More stocks fell than rose on the New York Stock Exchange.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.61 percent.

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

The Associated Press

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