WALL STREET ended lower yesterday as tumbling oil prices dragged energy shares to a three-year low and factory data from China added to concerns about weakening growth in the world’s second-largest economy.
The Dow Jones industrial average fell 91.46 points, or 0.52 per cent, to 17,598.4, the S&P 500 lost 5.86 points, or 0.28 per cent, to 2,097.98 and the Nasdaq Composite dropped 12.90 points, or 0.25 per cent, to 5,115.38.
Chevron plunged more than three per cent to lead blue chip declines, while Exxon Mobil was off 1.4 per cent.
Some major tech names declined.
Apple fell about 2.4 per cent to $118 a share, below its 200-day moving average and in correction territory.
Twitter closed down 5.6 per cent, ending below $30 a share for the first time. The stock briefly plunged more than 6.5 per cent to a new intraday low amid growth concerns.
Tyson Foods shares fell 9.9 per cent after the biggest US meat processor cut its profit forecast for the year, citing export market disruptions in its beef business and high cattle costs.
Peabody Energy fell 9.17 per cent as President Barack Obama prepared to unveil the final version of his plan to tackle greenhouse gases from coal-fired power plants.
After the bell, shares of Tenet Healthcare rose 2.3 per cent as the company’s second-quarter report pleased investors.