Mixed Finish for US Stocks

Crude slides, dragging down energy stocks
By Newser Editors and Wire Services
Posted Nov 8, 2018 3:00 PM CST
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Trader William Lawrence works on the floor of the New York Stock Exchange, Thursday, Nov. 8, 2018.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing mostly lower on Wall Street after a big rally the day before, the AP reports. Energy companies fell again Thursday as price of oil entered a bear market with a decline of 20.6% from its peak in early October. Oil prices have been falling as traders worry about rising supplies. Chipmaker Qualcomm dropped 8.2% after giving a disappointing revenue forecast. Markets didn't react much to the Federal Reserve's decision to hold interest rates steady. The S&P 500 index fell 7 points, or 0.3%, to 2,806. It rose 2.1% a day earlier. The Dow Jones Industrial Average edged up 10 points to 26,191. The Nasdaq fell 39 points, or 0.5%, to 7,530. (Read more stock market stories.)

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