Stock indexes slip as plunging oil prices hit energy firms [Los Angeles Times (CA)]
Exxon Mobil Corporation (XOM)
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Source: Los Angeles Times
Stock indexes slip as plunging oil prices hit energy firms The steepest fall in oil prices in more than three years pulled energy stocks lower on Wall Street, extending a losing streak for the Standard & Poor’s 500 index to a fourth day. The price of U.S. crude plunged 7.1% on Tuesday to $55 a barrel, the lowest since December 2017. Oil has now fallen for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries. Energy companies sustained big losses. Exxon Mobil gave up 2.3%. The S&P 500 slipped 4 points, or 0.1%, to 2,722. The Dow Jones industrial average fell 100 points, or 0.4%, to 25,286. The Nasdaq composite was little changed at 7,200. Bond prices rose. The yield on the 10-year Treasury note fell to 3.14%. 1:20 p.m.: This article was updated with the close of markets. This article was originally published at 7:25 a.m. The steepest fall in oil prices in more than three years pulled energy stocks lower on Wal
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