Stocks slide, led down by tech companies; oil prices rise [Los Angeles Times (CA)]
ANADARKO PETROLEUM (APC)
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Source: Los Angeles Times
Stocks slide, led down by tech companies; oil prices rise U.S. stocks fell sharply Friday, erasing an early gain, as the market closed in on its third weekly decline in four weeks. Losses by technology and healthcare stocks outweighed gains elsewhere in the market. Energy companies led the gainers as crude oil prices rose on news that OPEC members agreed to cut production next year. The government said job growth in November fell short of economists' expectations. KEEPING SCORE: The Standard & Poor’s 500 index fell 41 points, or 1.5%, to 2,654 as of 11:25 a.m. Eastern time. The Dow Jones industrial average declined 411 points, or 1.7%, to 24,536. The Nasdaq composite slid 135 points, or 1.9%, to 7,053. The Russell 2000 index of small-company stocks slipped 4 points, or 0.3%, to 1,473. ENERGY: Oil prices rose after OPEC countries agreed to reduce global oil production by 1.2 million barrels a day for six months, beginning in January. The move would include a reduction of 800,000 barrel
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