Stocks Down as Oil, Gas Prices Plunge

Energy sector takes another blow
By Newser Editors and Wire Services
Posted Feb 1, 2016 3:22 PM CST
Specialist Michael Gagliano, foreground, works with traders at his post on the floor of the New York Stock Exchange, Monday, Feb. 1, 2016.   (Richard Drew)

(Newser) – Stocks are closing mostly lower after another steep drop in oil and natural gas prices pulled energy companies down. Prices for crude oil and natural gas each slumped about 6% Monday, the latest blow to the beleaguered energy sector. Oil and gas companies took heavy losses. Devon Energy sank 7% and Murphy Oil lost 6%. Not all the news was bad: Aetna jumped 2% after reporting solid earnings.

The Dow Jones industrial average edged down 17 points, or 0.1%, to 16,449. The Standard & Poor's 500 index lost less than a point to 1,939. The Nasdaq composite edged up six points, or 0.1%, to 4,620. Bond prices fell. The yield on the 10-year Treasury note rose to 1.96%. (Read more stocks stories.)

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