Stocks move lower after 2 days of solid gains; Crude oil slump pulls down the energy sector


NEW YORK, N.Y. – Stocks are closing lower following two days of gains as investors focus on problems in Ukraine and Iraq.

Energy stocks fell more than the rest of the market, dragged down by a decline in the price of crude oil.

The Dow Jones industrial average lost nine points, or 0.1 per cent, to close at 16,560 Tuesday. The Standard & Poor’s 500 index fell three points, or 0.2 per cent, to 1,933.

The Nasdaq composite fell 12 points, or 0.3 per cent, to 4,389.

Kate Spade plunged 25 per cent after executives for the handbag company warned that sales growth would slow this year.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.45 per cent.

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