News

US stocks open lower; energy sector sinks along with oil

Stocks are opening broadly lower on Wall Street, putting the market on track for its second sizable loss in a row.

Energy stocks were among the biggest decliners in early trading Monday as the price of crude oil fell again.

Property and casualty insurance company Loews sank 4 per cent after reporting earnings that fell far short of analysts’ forecasts.

The Dow Jones industrial average fell 213 points, or 1.3 per cent, to 15,989 as of 9:35 a.m. Eastern time.

The Standard & Poor’s 500 index lost 25 points, or 1.3 per cent, to 1,854. The Nasdaq composite dropped 81 points, or 1.9 per cent, to 4,279.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.79 per cent.