Oil and gas companies lead an early decline in stocks

AP News
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Posted: Feb 01, 2016 9:43 AM
Oil and gas companies lead an early decline in stocks

NEW YORK (AP) — Another steep drop in oil and natural gas prices is pulling the stock market lower in early trading.

Southwestern Energy, a natural gas company, plunged 10 percent shortly after the opening bell Monday. Chesapeake Energy sank 6 percent.

The Dow Jones industrial average gave up 105 points, or 0.7 percent, to 16,360 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index slipped 11 points, or 0.6 percent, to 1,928. The Nasdaq composite declined 23 points, or 0.5 percent, to 4,590.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.94 percent.