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Tuesday, January 26, 2021

A November stock slide continues as oil, metals prices fall

NEW YORK (AP) — A deepening slump in prices for oil, metals and other commodities sent stock prices lower.

The downturn Thursday extended a slide that began early this month and has eroded some of the gains from a powerful rally in October.

Crude oil fell below $42 a barrel, its lowest price since August, while copper, gold and silver reached six-year lows.

Energy, mining and metals companies fell. Caterpillar, Exxon Mobil and Chevron had the biggest losses in the Dow Jones industrial average.

The Dow and the Standard & Poor’s 500 index are now negative for the year.

The Dow sank 254 points, or 1.4 percent, to 17,448. The S&P 500 lost 29 points, or 1.4 percent, to 2,045 and the Nasdaq composite fell 61 points, or 1.2 percent, to 5,005.

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