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Market indexes edge lower in midday trade in US, extending losses to 4th day; Oil price gains

NEW YORK, N.Y. – U.S. stocks are edging lower in midday trading, extending the market’s losses to a fourth day.

Losses were bigger in Europe after Saudi Arabia launched strikes on key military installations in Yemen. The price of oil rose.

The Dow Jones industrial average fell 21 points, or 0.1 per cent, to 17,696 as of 11:45 a.m. Eastern time.

The Standard & Poor’s 500 fell two points, or 0.1 per cent, to 2,058. The Nasdaq composite lost 14 points, or 0.3 per cent, to 4,861.

The price of oil rose $1.30 to $50.51 a barrel in New York.

SanDisk dropped 17 per cent, the most in the S&P 500, after the maker of flash memory chips cut its revenue forecast.

Bond prices fell. The yield on the 10-year Treasury rose to 1.97 per cent from 1.93 per cent.