Stocks edged lower in early trading on Wednesday, weighed down by a slide in energy stocks as crude oil and natural gas prices fell. The downward trend echoed a decline in the major stock markets in Europe.þþKEEPING SCORE The Dow Jones industrial average slid 0.2 percent, while the Standard & Poor’s 500-stock index fell 0.26 percent. The Nasdaq declined 0.35 percent.þþENERGY The volatility in energy markets continued, with the benchmark United States crude contract losing some of its overnight gain. It was down $1.28, or 3.4 percent, to $36.59 a barrel in New York. It’s down about 39 percent this year. Brent crude, used to price international oils, fell $1.12, or 3 percent, to $36.66 a barrel in London. Natural gas slumped 16 cents, or 6.7 percent, to $2.21 per 1,000 cubic feet.þþDRAGGING AGAIN Several energy companies moved lower as investors reacted to the latest downturn in oil and natural gas prices. Consol Energy shed 1 percent, while the natural gas company Chesapeake Energy fell 4.3 percent. Southwestern Energy slipped 0.8 percent.þ
Source: NY Times
