Stocks fall the most in two months as a weak start to 2014 drags on; Energy sector slides - InfoNews

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Stocks fall the most in two months as a weak start to 2014 drags on; Energy sector slides

January 13, 2014 - 1:11 PM

NEW YORK, N.Y. - The stock market is down the most in two months, continuing a weak start to the year.

The energy sector slumped as the price of crude oil declined.

Traders were also worried about more cuts in the Federal Reserve's stimulus program following remarks from policymaker at the central bank.

The Dow Jones industrial average lost 179 points, or 1.1 per cent, to close at 16,257 Monday.

The Standard & Poor's 500 index fell 23 points, or 1.3 per cent, to 1,819. The Nasdaq composite fell 61 points, or 1.5 per cent, to 4,113.

Stocks are getting off to a poor start this year. The Dow is down 2 per cent and has risen only twice in 2014.

Consumer discretionary and energy stocks fell the most in the S&P 500 index.

Bond prices rose.

News from © The Associated Press, 2014
The Associated Press

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