Stocks routed again as oil slide seems bottomless
NEW YORK - Energy stocks are leading another sell-off on Wall Street as the price of oil continues to plunge.
U.S. crude dropped 2 percent to just under $28 a barrel in New York early Wednesday. Dropping energy prices is a sign that the global economy is slowing down.
Oil and gas stocks fell more than the rest of the market in early trading. Chesapeake Energy sank 8 percent and Devon Energy fell 7 percent.
IBM dropped 6 percent after the struggling tech giant reported another drop in revenue.
The Dow Jones industrial average has been more than 400 points lower in morning trading.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
La. lawmakers begin latest push for legalized sports betting
Wondering what to do with those extra mardi gras beads?
Drive-thru ashes make penance more accessible
Children's hospital looking for volunteers to help patients
Sherwood Forest residents want cameras installed in their area for added security