U.S. Stocks Sink on Jitters Over N. Korea, Chinese Economy
U.S. stocks are moving lower as investors fret about signs of belligerence in North Korea and more weakening of China’s economy.
Oil prices fell sharply Wednesday after China reported that its service sector continued to slump. That could mean lower demand for energy in the world’s second-largest economy.
Energy stocks fell far more than the rest of the market. Marathon Oil sank 10 percent and Southwestern Energy fell 9 percent.
The Dow Jones Industrial Average dropped 203 points, or 1.2 percent, to 16,953 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 index lost 20 points, or 1 percent, to 1,996. The Nasdaq composite gave up 37 points, or 0.8 percent, to 4,854.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent.
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