U.S. stocks were dragged lower Monday by a continued fall in the price of oil. Oil prices have tumbled more than 50% since last summer, and Monday crude-oil futures dropped 3.8% to $45.31 a barrel. Energy companies in the S&P 500 were the biggest decliners in the index, falling 1.9%. Oil majors Chevron Corp. and Exxon Mobil Corp., which led declines in the Dow industrials Friday, continued to drag the market lower, falling 3.3% and 1.7%, respectively. The Dow declined 92 points, or 0.5%, to 17,598, while the S&P 500 dropped 0.3% to 2,098.
Argonaut | The Natural Choice in Resources.
© 2024 Argonaut.