Another decline for US stock market

AP News
Posted: Aug 01, 2014 12:04 PM
Another decline for US stock market

NEW YORK (AP) — U.S. markets are moving lower, extending a major sell-off from the day before.

Energy stocks fell the most after Chevron reported weaker oil and gas production. Exxon Mobil had reported disappointing production figures the day before.

The Dow Jones industrial average lost 110 points, or 0.7 percent, to 16,454 as of noon Eastern time. The blue-chip index lost 317 points the day before, its biggest one-day drop since February.

The Standard & Poor's 500 index fell 12 points, or 0.7 percent, to 1,918 and the Nasdaq composite fell 39 points, or 0.9 percent, to 4,329.

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The S&P 500 index is down 3 percent for the week and is heading for its worst week of the year.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.49 percent.