Wall Street starts day lower amid falling crude oil prices
After reaching record highs in the previous session, major equity indexes in the U.S. started the day lower on Tuesday as the falling crude oil prices weighed on the energy stocks.
After Libya, which is not subject to OPEC quotas, announced that the crude oil production reached its highest level of the year as two more refineries have been activated, another crude oil selling wave hit the markets. The barrel of West Texas Intermediate fell to its lowest level since November. As of writing, the barrel of WTI is trading at $43.10, down nearly 3% on the day.
At the moment, the Dow Jones Industrial Average is losing 20.59 points, or 0.1%, at 21,508.4. The S&P 500 is down 4.5 points, or 0.2%, at 2,442.50. while the Nasdaq Composite is losing 10.89 points, or 0.17%, at 6,228.12.
Headlines from the U.S. session:
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
