Markets Right Now: US stocks head lower as oil plunges

NEW YORK – The latest on developments in financial markets (all times local):

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12 p.m.

Stocks are headed lower on Wall Street at midday Friday as energy stocks fall along with the price of oil.

Trading volume is light with the markets open for only a half day after the Thanksgiving holiday.

U.S. oil is down 6.8 per cent to $50.91 per barrel on renewed concerns that a slowing global economy could hurt demand. Among energy stocks, Marathon oil is sinking 4.1 per cent.

Technology stocks are also weighing on the market. Apple is down 2.2 per cent.

The S&P 500 index fell 9 points, or 0.3 per cent, to 2,640.

The Dow Jones Industrial Average dropped 97 points, or 0.4 per cent, to 24,367. The Nasdaq composite fell 9 points, or 0.1 per cent, to 6,962.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.05 per cent.

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9:35 a.m.

Stocks are opening lower on Wall Street as energy stocks fall along with the price of oil.

Trading volume could be light with the markets open for only a half day after the Thanksgiving holiday.

U.S. oil is down 5.7 per cent to $51.52 per barrel on renewed concerns that a slowing global economy could hurt demand. Among energy stocks, Marathon oil is sinking 3.3 per cent while Halliburton is sliding 2.8 per cent.

Retailers are seeing small gains as shoppers look for deals on Black Friday.

The S&P 500 index fell 15 points, or 0.6 per cent, to 2,634.

The Dow Jones Industrial Average dropped 143 points, or 0.6 per cent, to 24,320. The Nasdaq composite fell 21 points, or 0.3 per cent, to 6,951.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.03 per cent.