news-170319779-ar-0-rcmxrxbowyru.jpg
The statue of George Washington on the steps of Federal Hall overlooks the New York Stock Exchange, right, during a winter storm, Tuesday, March 14, 2017. Global stocks drifted lower on Tuesday as investors looked to the Federal Reserve's policy meeting for an expected interest rate increase and hints on future hikes. THE ASSOCIATED PRESS

OPENING BELL: Energy stocks lead Wall Street lower

NEW YORK (AP) — The latest on developments in financial markets (All times local):

 

9:35 a.m.

 

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

 

Marathon Oil slumped 3.9 percent in early trading Tuesday. Murphy Oil dropped 3 percent.

 

Streaming music company Pandora Media slumped 3.5 percent after the company announced it will launch an on-demand music service to compete with Apple Music and Spotify.

 

The Standard & Poor's 500 index fell 7 points, or 0.3 percent, to 2,365.

 

The Dow Jones industrial average lost 36 points, or 0.2 percent, to 20,846. The Nasdaq composite fell 21 points, or 0.4 percent, to 5,854.

 

More stocks fell than rose on the New York Stock Exchange. Bond prices rose. The yield on the 10-year Treasury note fell to 2.61 percent.

 

Global stocks drifted lower on Tuesday as investors looked to the Federal Reserve's policy meeting for an expected interest rate increase and hints on future hikes. Britain's pound fell after the country's parliament cleared the way for Britain to start its exit process from the European Union.

 

Britain's FTSE 100 shed 0.1 percent to 7,358 while France's CAC 40 fell 0.6 percent to 4,968. Germany's DAX lost 0.3 percent to 11,948. Futures augured a tepid start on Wall Street with Dow futures down 0.3 percent and S&P futures shedding 0.4 percent.

Share This Story