A jump in the nation's energy inventories sent stocks falling Thursday as investors worried that demand for oil and gasoline is falling because of the struggling economy. Major stock indexes slid about 1 percent from 13-month highs, including the Dow Jones industrial average, which fell 94 points after six days of gains. The inventory report from the government pushed crude oil down 3 percent, below $77 a barrel. A gain in the dollar also weighed on prices for commodities including oil by making them more expensive for overseas buyers.
The Dow fell 93.79, or 0.9 percent, to 10,197.47.
The Standard & Poor's 500 index fell 11.27, or 1.0 percent, to 1,087.24.
The Nasdaq composite index fell 17.88, or 0.8 percent, to 2,149.02.
For the week:
The Dow is up 174.05, or 1.7 percent.
The S&P is up 17.94, or 1.7 percent.
The Nasdaq is up 36.58, or 1.7 percent.
For the year:
The Dow is up 1,421.08, or 16.2 percent.
The S&P is up 183.99, or 20.4 percent.
The Nasdaq is up 571.99, or 36.3 percent.