Energy shares drag US stocks lower

Losses in oil and resulting weakness in the energy shares pushed major US equity indices in the red.

At the time of writing, Dow Jones Industrial Average (DJIA) was down 0.34% or 17,170 levels. S&P 500 index and Nasdaq index were down 0.6% and 0.5% respectively.

The DJIA Oil and Gas index traded 1.5% lower. Apart from Utilities index, which was up almost 0.50%, all other sectors were trading in the red.

Shares in Caterpillar were down 1.9%. Freeport-McMoran and Chesapeake Energy were down 7.5% and 6.8% respectively. Meanwhile, winning side included names like Apple, Home Depot, Nike, Wal-Mart Stores.

Losses in oil and resulting weakness in the energy shares pushed major US equity indices in the red.

(Market News Provided by FXstreet)

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