Home Market Wall Street pulled lower by oil slump

Wall Street pulled lower by oil slump


New York: US stocks fell on Friday as oil prices plunged to their lowest in more than a year, dragging down energy shares, while US-China trade talks at the G20 summit next week kept investors on edge in a truncated trading session.

At 22.45 IST the Dow Jones Industrial Average was down 123 points, or 0.51 per cent, at 24,340.70, the S&P 500 was down 12.71points, or 0.48 per cent, at 2,637.16 and the Nasdaq Composite was up 7.81 points, or 0.11 per cent, at 6,966.47.

Oil majors Exxon Mobil and Chevron fell more than 3 per cent and were the leading decliners on the Dow Jones Industrial Average. Oilfield service providers Schlumberger and Halliburton also fell nearly 3 per cent. That pressured the S&P energy index, which fell 3.4 per cent, the most among the 11 major S&P sectors. The energy sector has lost 16.5 per cent since the beginning of October, making it the worst performing S&P sector during the period.

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