Markets Right Now: Energy, tech losses hit US stocks

21 Jul

published on July 21, 2017 - 2:08 PM
Written by Associated Press

Stocks are closing lower as energy companies fall with oil prices and a winning streak for technology companies ends.

The price of U.S. crude fell 2.5 percent Friday. Helmerich & Payne dropped 5.5 percent.

General Electric fell 2.9 percent after a disappointing profit forecast.

European stocks tumbled following a report the European Central Bank will make a decision about reducing its economic stimulus in October.

The blue chip Euro Stoxx 50 index fell 1.4 percent.

The Standard & Poor’s 500 index slipped less than 1 point to 2,472.

The Dow Jones industrial average fell 31 points, or 0.1 percent, to 21,580.

The Nasdaq lost 2 points to 6,387, ending a 10-day string of gains.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.24 percent.

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