05 11 2014

US stocks move lower in midday trading as oil's slide weighs on energy stocks

NEW YORK – Stocks are moving lower midday trading, led by declines in the energy sector as the price of oil continues to fall.

The Standard & Poor's 500 index fell 14 points, or 0.7 percent, to 2,003 as of noon Eastern time Tuesday.

The Dow Jones industrial average fell 50 points, or 0.3 percent, to 17,316. The Nasdaq composite fell 39 points, or 0.9 percent, to 4,599.

Energy stocks fell 2.3 percent, the most of the 10 industries in the S&P 500 index. Halliburton slumped 6 percent.

U.S. crude fell $2.33, or 3 percent, to $76.45 a barrel in New York, the lowest price in three years.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.32 percent.