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
Stocks Close Lower as Oil Slump Continues
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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