NEW YORK (AP) — U.S. stocks are mostly lower as traders return from the Memorial Day holiday.
Energy stocks fell more than the rest of the market Tuesday as the price of crude oil fell.
Transocean, Valero Energy and Allegheny Technologies each fell 3 percent.
The Dow Jones industrial average slumped 168 points, or 0.9 percent, to 18,063 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 lost 17 points, or 0.8 percent, to 2,107. The Nasdaq declined 55 points, or 1.1 percent, to 5,033.
Benchmark U.S. crude slumped $1.63, or 2.7 percent, to $58.09 a barrel in New York.
Time Warner Cable rose 4 percent after the company agreed to be acquired by Charter Communications for $55 billion.
The dollar rose against the Japanese yen and the euro.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- 5 safety pitfalls putting your business at risk
- Keeping outdoor workers safe in the scorching desert heat
- 7 common ways to get sued by your employees
- Distracted walking injuries end up not so funny
- Workers comp: Signs your co-worker could be a fraud
- Telecommuting: 5 tips to make it work for employers and employees