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Markets Right Now: Energy stocks pull US market lower

Oil and gas stocks are leading an early decline on Wall Street as energy prices turn lower

Markets Right Now: Energy stocks pull US market lower

NEW YORK (AP) -- The latest on developments in global financial markets (all times local):

9:35 a.m.

Oil and gas stocks are leading an early decline on Wall Street as energy prices turn lower.

Crude oil prices fell in early trading Tuesday after the International Energy Agency cut its forecast for global demand growth for this year.

U.S. benchmark crude fell almost 2 percent to $45.42 a barrel. Energy companies followed suit. Marathon Oil lost 4 percent and Murphy Oil also fell 4 percent.

The Dow Jones industrial average was down 153 points, or 0.9 percent, to 18,169.

The Standard & Poor's 500 index declined 19 points, or 0.9 percent, to 2,140. The Nasdaq composite dropped 28 points, or 0.5 percent, to 5,184.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.66 percent.


Updated : 2021-04-14 08:50 GMT+08:00