Energy, mining stocks lead an early decline on Wall Street

AP News
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Posted: Dec 28, 2015 9:42 AM
Energy, mining stocks lead an early decline on Wall Street

Stocks are opening lower, led by declines in energy and mining companies as prices for oil and other commodities fall.

Exxon Mobil fell 1.5 percent in early trading Monday, the most in the Dow Jones industrial average. Mining company Freeport-McMoRan sank 7 percent.

The Dow average was down fell 85 points, or 0.5 percent, to 17,466 as of 9:35 a.m. Eastern time Monday.

The Standard & Poor's 500 index lost eight points, or 0.4 percent, to 2,052. The Nasdaq composite declined 16 points, or 0.4 percent, to 5,030.

The price of crude oil fell almost 3 percent to $37 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.24 percent.