Dow Ends Day Down 249

Nasdaq, S&P 500 also down
By Newser Editors and Wire Services
Posted Jan 20, 2016 3:26 PM CST
Dow Ends Day Down 249
Traders Thomas Cicciari, left, and Kevin Lodewick work on the floor of the New York Stock Exchange, Wednesday, Jan. 20, 2016. Energy stocks are leading another sell-off on Wall Street as the price of oil continues to plunge.    (Richard Drew)

US stocks recovered much of an early plunge, but the price of oil suffered its worst one-day drop since September. Energy companies were pummeled as the latest fall in oil threatened more damage to an industry that has been stricken with bankruptcies, layoffs, and other cutbacks. Exxon Mobil fell 4% and Chevron fell 3%. Crude fell below $27 a barrel, the lowest price since May 2003 and a far cry from the $100 a barrel it fetched in the summer of 2014.

The Dow Jones industrial average fell 249 points, or 1.6%, to 15,766. It was down as much as 565 earlier. The Standard & Poor's 500 index lost 22 points, or 1.2%, to 1,859. The Nasdaq composite slipped five points, or 1%, to 4,471. (Read more Dow Jones stories.)

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