A sharp drop in the price of oil on Monday rattled investors and helped push stocks lower across several industries. Investors sold from the start of trading following a decision by OPEC last week not to cut production. Seven of the 10 sectors of the Standard and Poor’s 500 index fell, led by energy shares.
The Dow Jones industrial average fell 117.12 points, or 0.7 per cent, to 17,730.51.
The Standard & Poor’s 500 index fell 14.62 points, or 0.7 per cent, to 2,077.07.
The Nasdaq composite dropped 40.46 points, or 0.8 per cent, to 5,101.81.
For the year:
The Dow is down 92.56 points, or 0.5 per cent.
The S&P is up 18.17 points, or 0.9 per cent.
The Nasdaq is up 365.76 points, or 7.7 per cent.