Energy Stocks Lead Early Decline on Wall Street

Energy stocks are leading an early decline on Wall Street as the price of crude oil takes another tumble.

Most of the biggest decliners in early trading Thursday were oil and gas companies. Williams Companies sank 6 percent and Chesapeake Energy fell 5 percent.

The price of U.S. benchmark crude gave up 3 percent to fall below $39 a barrel.

Sportsman’s Warehouse sank 12 percent after releasing a disappointing forecast.

The Dow Jones industrial average lost 88 points, or 0.5 percent, to 17,418 as of 9:35 a.m. Eastern time.

The Standard & Poor’s 500 index lost 12 points, or 0.6 percent, to 2,024. The Nasdaq composite declined 26 points, or 0.6 percent, to 4,741.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.85 percent.

 

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