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VOL. 39 | NO. 38 | Friday, September 18, 2015
US stocks drop as oil and other commodities sink
NEW YORK (AP) — Stocks are closing sharply lower as materials companies sink along with the prices of oil and copper.
The Dow Jones industrial average fell 179 points, or 1.1 percent, to 16,330 Tuesday.
The Standard & Poor's 500 index dropped 24 points, or 1.2 percent, to 1,942 and the Nasdaq composite declined 72 points, or 1.5 percent, to 4,756.
The price of oil fell 2 percent to $45.83 a barrel. Copper also fell, bringing mining companies lower.
Drugmakers slumped, adding to their losses from the day before. Mylan fell 3 percent.
Bond prices rose. The yield on the benchmark 10-year Treasury note fell to 2.14 percent.