US stock market sinks as price of crude oil resumes a slide

AP News
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Posted: Mar 19, 2015 11:55 AM
US stock market sinks as price of crude oil resumes a slide

NEW YORK (AP) — Stocks are moving mostly lower in midday trading, led by declines in the energy sector as the price of oil resumes a long-term slide.

The dollar rebounded Thursday, a day after plunging against the euro.

Exxon Mobil and Chevron were among the biggest decliners in the Dow Jones industrial average.

The Dow welcomed its newest member, Apple, on Thursday. The iPhone maker took the place of AT&T.

The Dow was down 127 points, or 0.7 percent, to 17,948 as of 11:45 a.m. Eastern.

The Standard & Poor's 500 fell 12 points, or 0.6 percent, to 2,087. The Nasdaq edged up four points, or 0.1 percent, to 4,987.

Crude oil fell 92 cents to $45.73 a barrel.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.95 percent.