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US stocks ease in midday trade, day after Nasdaq record

FILE - This Monday, July 15, 2013 file photo shows the American flag and Wall Street street sign outside the New York Stock Exchange, in New York. Stocks are moderately lower in early trading Thursday, May 28, 2015, a day after the Nasdaq composite closed at a record high. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) — Stocks are moderately lower in midday trading, a day after the Nasdaq composite closed at a record high.

Energy stocks were among the biggest losers Thursday as the price of oil fell.

The Dow Jones industrial average was down 81 points, or 0.5 percent, to 18,081 as of 11:45 a.m. Eastern time Thursday.

The Standard & Poor’s 500 index lost nine points, or 0.4 percent, to 2,114. The Nasdaq composite fell 19 points, or 0.4 percent, to 5,087.

The price of crude oil fell 54 cents to $56.98 a barrel in New York.

Chinese shares plunged after gigantic gains in the past three months. The Shanghai Composite dropped more than 6 percent. It’s still more than double what it was a year ago.

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