Markets Right Now: US stocks end lower as oil plunges

November 23, 2018 - 12:26 pm

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

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1:00 p.m.

Stocks are closing lower in a shortened session Friday as energy stocks fall along with the price of oil. The S&P 500 closed in what's known on Wall Street as a correction — 10 percent below its most recent high.

The S&P 500 index fell 17 points, or 0.7 percent, to 2,632. The index is now down 10.2 percent from the record high set Sept. 20

U.S. oil is down 6.1 percent to $51.29 per barrel on renewed concerns that a slowing global economy could hurt demand. Among energy stocks, Chevron dropped 3.4 percent.

Trading volume was light with the markets open for only a half day after the Thanksgiving holiday.

Technology stocks also weighed on the market. Apple fell 2.5 percent.

The Dow Jones Industrial Average dropped 178 points, or 0.7 percent, to 24,285. The Nasdaq composite fell 33 points, or 0.5 percent, to 6,938.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.05 percent.

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12 p.m.

Stocks are headed lower on Wall Street at midday Friday as energy stocks fall along with the price of oil.

Trading volume is light with the markets open for only a half day after the Thanksgiving holiday.

U.S. oil is down 6.8 percent to $50.91 per barrel on renewed concerns that a slowing global economy could hurt demand. Among energy stocks, Marathon oil is sinking 4.1 percent.

Technology stocks are also weighing on the market. Apple is down 2.2 percent.

The S&P 500 index fell 9 points, or 0.3 percent, to 2,640.

The Dow Jones Industrial Average dropped 97 points, or 0.4 percent, to 24,367. The Nasdaq composite fell 9 points, or 0.1 percent, to 6,962.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.05 percent.

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9:35 a.m.

Stocks are opening lower on Wall Street as energy stocks fall along with the price of oil.

Trading volume could be light with the markets open for only a half day after the Thanksgiving holiday.

U.S. oil is down 5.7 percent to $51.52 per barrel on renewed concerns that a slowing global economy could hurt demand. Among energy stocks, Marathon oil is sinking 3.3 percent while Halliburton is sliding 2.8 percent.

Retailers are seeing small gains as shoppers look for deals on Black Friday.

The S&P 500 index fell 15 points, or 0.6 percent, to 2,634.

The Dow Jones Industrial Average dropped 143 points, or 0.6 percent, to 24,320. The Nasdaq composite fell 21 points, or 0.3 percent, to 6,951.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.03 percent.

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