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Energy Companies Skid, Sending Indexes Lower

Dow ends day down 75
By Newser Editors and Wire Services
Posted May 24, 2018 3:07 PM CDT
Trader Andrew Silverman works on the floor of the New York Stock Exchange, Tuesday, May 22, 2018.   (AP Photo/Richard Drew)

(Newser) – US stocks are finishing mostly lower as energy companies skidded along with oil prices, the AP reports. The market dropped Thursday after President Donald Trump said he canceled a meeting with North Korean leader Kim Jong Un, but recovered most of those losses. Crude oil prices and energy companies fell as investors reacted to reports the nations of OPEC may start producing more oil. Exxon Mobil fell 2.3%. Car companies fell as the Trump administration considered tariffs on imported cars. Toyota lost 1.8%. The S&P 500 index fell 5 points, or 0.2%, to 2,727. The Dow Jones industrial average lost 75 points, or 0.3%, to 24,811. The Nasdaq composite slipped 1 point to 7,424. (Read more stock market stories.)

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