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
Stocks Down as Oil, Gas Prices Plunge
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)

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%. (More stocks stories.)

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