Oil and gas stocks are leading another decline in US indexes after energy prices dropped again. Marathon Oil sank 5% Wednesday and Chesapeake Energy, a natural gas producer, lost 4%. The Dow Jones industrial average gave up 117 points, or 0.7%, to 17,603. The Standard & Poor's 500 index fell 15 points, or 0.7%, to 2,063. The Nasdaq composite declined 42 points, or 0.8%, to 5,065.
The price of oil fell 3% to just under $37 a barrel. Oil is down almost 40% this year. Pep Boys dropped 3% after Bridgestone said it wouldn't counter the latest offer for the company from activist investor Carl Icahn. Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.30%.