U.S. Stocks Slip as Market Comes Off Worst Week Since Mid-August

Strategic Insights -

The U.S. stock market, which experienced its biggest weekly decline since mid-August, is continuing to slide on Monday. The Dow Jones industrial average fell 92 points, or 0.6 percent, to 17,171 as of 11:17 a.m. Eastern, while the Standard & Poor's 500 index gave up 13 points, or 0.7 percent, to 1,998. The price of natural gas plunged 6 percent due to unseasonably warm temperatures in the U.S., while oil prices and energy stocks also slumped.

Key Takeaways:

  • The Dow Jones industrial average fell 92 points, or 0.6 percent, to 17,171 as of 11:17 a.m. Eastern.
  • The Standard & Poor's 500 index gave up 13 points, or 0.7 percent, to 1,998.
  • The Nasdaq composite index dropped 36 points, or 0.7 percent, to 4,896.
  • All 10 industrial sectors on the S&P 500 index fell, led by makers of basic materials and energy stocks.
  • Natural gas prices plunged 6 percent as traders anticipated weak demand for heating due to unseasonably warm temperatures.
  • Range Resources sank $1.28, or 6 percent, to $21.46, and Southwestern Energy slumped 39 cents, or 7 percent, to $5.52.
  • The price of U.S. crude oil fell 14 cents to $35.50 per barrel in New York, and Brent crude, a benchmark for international oils, declined 80 cents, or 2.1 percent, to $37.54 a barrel in London.
  • Activist investor Daniel Loeb is challenging the combination of chemicals makers DuPont and Dow Chemical.

Statistics:

  • The Dow Jones industrial average fell 92 points, or 0.6 percent, to 17,171 as of 11:17 a.m. Eastern.
  • The Standard & Poor's 500 index gave up 13 points, or 0.7 percent, to 1,998.
  • The Nasdaq composite index dropped 36 points, or 0.7 percent, to 4,896.
  • Natural gas prices plunged 6 percent.
  • Range Resources sank $1.28, or 6 percent, to $21.46.
  • Southwestern Energy slumped 39 cents, or 7 percent, to $5.52.
  • The price of U.S. crude oil fell 14 cents to $35.50 per barrel in New York.
  • Brent crude, a benchmark for international oils, declined 80 cents, or 2.1 percent, to $37.54 a barrel in London.

Sources:

  • "U.S. stocks slip as market comes off worst week since mid-August," AP News, Marley Jay, http://bigstory.ap.org/journalist/marley-jay
  • "Keeping Score: Markets," AP News, http://bigstory.ap.org/ category/markets