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

AP News
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Posted: Mar 19, 2015 4:11 PM
US stock market sinks as price of crude oil resumes a slide

NEW YORK (AP) — Stocks are closing mostly lower, 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. Each lost about 2 percent.

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

The Dow fell 117 points, or 0.7 percent, to 17,959.

The Standard & Poor's 500 index fell 10 points, or 0.5 percent, to 2,089.

The Nasdaq composite edged up nine points, or 0.2 percent, to 4,992.

Crude oil fell $1.12 to $45.53 a barrel in New York.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.98 percent.