Stocks Close Lower as Oil Slump Continues

Yelp stock takes a nosedive
By Newser Editors and Wire Services
Posted Nov 9, 2018 3:19 PM CST
Trader Michael Urkonis. left, works with specialists John McNierney, center, and Douglas Johnson on the floor of the New York Stock Exchange on Friday.   (AP Photo/Richard Drew)

(Newser) – Stocks closed lower as a combination of weak economic data from China and disappointing earnings hurt technology and internet companies, the AP reports. Crude oil prices fell Friday for the 10th day in a row, hurting energy companies. Video game maker Activision Blizzard plunged 12.4% after forecasting weak holiday sales. Online reviews company Yelp took a nosedive of 26.6% after reporting disappointing results and giving a weak forecast. Walt Disney rose 1.7% after its profit surpassed analyst estimates. The S&P 500 index fell 25 points, or 0.9% to 2,781. The Dow Jones Industrial Average lost 201 points, or 0.8%, to 25,989. The Nasdaq composite fell 123 points, or 1.6%, to 7,406. Bond prices rose. The yield on the 10-year Treasury note fell to 3.19%. (Read more stock market stories.)

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