Oil and Gas push US stock markets lower

FXStreet (Mumbai) – The losses in the energy shares on account of a fresh 6-1/2 year low in Brent prices pushed the major US equity indices lower.

At the time of writing, the Dow Jones Industrial Average (DJIA) was down 0.50% or 90 points. The S&P 500 was 0.55% or 11 points weaker. The tech heavy Nasdaq was down 0.50% as well.

The DJIA Oil and Gas index was down 2.8%. Shares in Chevron, Caterpillar and Exxon Mobil were down 2% each. The positive side included names like Wal-Mart stores, Procter&Gamble.

The losses on the Wall Street have not had any impact on the European markets, which sit comfortably in the positive territory.

The losses in the energy shares on account of a fresh 6-1/2 year low in Brent prices pushed the major US equity indices lower.

(Market News Provided by FXstreet)